The word acronym typically applies when the resulting thing can be read as a word; for example, radar comes from “radio detection and ranging” and scuba comes from “self-contained underwater breathing apparatus.” The word initialism only applies when the resulting thing is read as an abbreviation; for example DIY, which comes from “do it yourself,” is pronounced by saying the names of the letters.
All initialisms are acronyms
https://www.merriam-webster.com/dictionary/acronym
From that link:
Right, typically, not exclusively.