A good solution is :Import the demo files , then the site looks like the Zerif site and you can build from there. But yes, you dont assign a page to posts but the other way round kinda, lol.
It should be so, yes. But it isnt.. If you want to have a blog going, make a page and choose a blog template in the dropdown , there is actually 2 available, blog and blog with large images. You cannot assign the posts to any site and decide it is your posts page in this template.
Hope this answers your question.
Cheers