Is this a one-time download or is it subscription based?

one time download. That's it. Only works on one machine. non-transferable (although I suspect a phone call to MS might allow you to convince them to let you move it to another machine).

Maybe this is a dumb question, but now that I purchased this, how do I get the code?

Go to the Microsoft office website. Register and enter your code. Then you can download and install.

Is this for the 32-bit or 64-bit version?

You can download either version

Questions & Answers: Microsoft Office Home and Student 2016 - Download - 1PC

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Microsoft Office Home and Student 2016 - Download - 1PC

Full, installed versions of Word, Excel, PowerPoint and OneNote
For 1 PC (Windows 7 or later)
Save your documents online with free OneDrive storage, available for all OneDrive users

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