To the bolded above,
no. There are a lot of accessory proteins that regulate this very carefully so that DNA replication happens only once. I won't go into details since they're not necessary for the MCAT, just know that replication only happens once per division cycle. Otherwise things would get very screwy.
More info
here if you really want to know.
Prokaryotes: have 1 origin of replication on the 1 circular chromosome and 1 on each plasmid, replication starts here on the circular chromosome, the DNA is unwound and there are 2 replication forks going in opposite directions.
Eukaryotes: have multiple origins of replications on each linear chromosome, each oriR gives rise to 2 replication forks moving in opposite directions, when replication forks run into each other the strands are ligated just like Okazaki fragments and the DNApol floats off.
You can have multiple transcription or translation happening, but not DNA replication.