In this area, you can change the name of Asset, if desired.
The defaults for 'Copy Project fields to Asset' are used in the v4.4 style contracts. Ticking Show when saving Project will instruct Jim2 to display the Copy dialog when saving a project that has an asset linked, and when creating an asset from a project.
As you can see, you can tick/untick elements not required.
Further information
Price Levels and Price Templates