I have a similar model by the same company and it works great. My friend owns this model too and it is awesome (although he has an extended battery for it).
If you're thinking about getting into ham radio, now is a great time, and it's cheap to do.
Here is the book that will teach you what you need to know:
A website on how to become a ham:
Online practice exam:
You don't have to know all of this, but it's cool to look at (notice the chart at the bottom):