Faerie Dragon familiar: Does she advance in sorceror levels?

[redsonia!]

I am playing Pathfinder for the first time with a faerie dragon as a familiar. The faerie dragon is supposed to be a 3rd level sorceror. Does she advance in sorceror levels as the PC advances? If so, which spells does she get as she advances? Does the PC or the DM choose the spells? Can anyone confirm that the faerie dragon can use magical items such as wands, rods, etc. Can the faerie dragon speak words? TIA

[papr_weezl8472]

Familiars don't gain levels as you do; they progress only as listed in the Familiar table.

As a Faerie Dragon casts spells as a third-level sorcerer, it can activate magic items as a sorcerer can, including wands and scrolls of sorcerer spells. It also has ranks in Use Magic Device, so can roll UMD to try to activate wands, scrolls, &c it would otherwise be unable to use.

A faerie dragon understands and can speak common, elven, draconic, and sylvan. It also has telepathy (100 ft.), which lets it communicate nonverbally with any nearby creature that understands a language.