Hi there! My answers below:
1) Mulitiple Contexts are NOT required for BVIs. Virtual contexts simply allows you to take one physical device and "slice" it into multiple virtual devices. Here is more information about multiple-contexts:
http://www.cisco.com/c/en/us/td/docs/security/asa/asa94/config-guides/cli/general/asa-94-general-config/ha-contexts.html
2) To create BVIs and run the ASA in transparent mode you need to change the ASA mode from "routed" to "transparent" mode with the following command:
firewall transparent
3) BVIs are bridge virtual interfaces and they allow you bridge two more interfaces together. For more information about that and configuration of transparent firewalls please check the link below:
http://www.cisco.com/c/en/us/td/docs/security/asa/asa94/config-guides/cli/general/asa-94-general-config/intro-fw.html#ID-2106-00000012
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