I'm not really an expert on this but given the lack of responses I'll share my thoughts.
I bought a small 3m fibre glass boat in December and first thing was a repaint. I roughed up the existing paint with sand paper (just lightly) and used a good enamel (sponge roller and brush). It looks neat and should last quite some time which is fine for such a "cheap" little boat. I read that two-step polyurethane is very strong and glossy but expensive and not easy to work with. I guess it comes down to the value of the boat and how important the finish is.
Yachting skippers tickets cover motor vessels as well so you're good there.
Unfortunately I can't help with the COF question.
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