You can have all the reports in the world, and also be the most active person, but that's just a indicator in my opinion. theymos seems to have a eye for good staff members and they all seen t be doing a great job. So we can't tell you a definite answer, it depends on a lot of things which are obtainable, like reporting posts etc. But, it depends on theymos perception of you too.
Yes that's definitely correct. Theymos seems to pick moderators that have common sense, are always fair, and don't abuse their power. I can't say the same for all the other forums I've been on.