Summary
Congratulations, you have just learned the necessary tools and techniques to be a noisy games developer. Games without audio makes for a bad experience; the minimum amount of audio and effects is essential to deliver an experience.
Regardless of the usage of an audio file, you have learned all the properties that you can tweak for a sound wave file. Whether it is background music, dialog, or effects, it doesn't matter. All of them share the same properties at the end of the day.
Of course Unreal Engine has a wide range of sound assets, a really wide range. Each has its own job, but all of them are here to allow you to be productive and give you the chance to control the tiniest detail that might be heard.
Sound cues are an amazing solution. Lots of other engines make you write your own tools to modularize the same set of sound files you have, but with the sound cue asset and its editor, it becomes very easy to modularize a small amount of sounds and shuffle between them in order...