Texture Channels and Master Material

Hi. I started Unreal Engine couple months ago. Despite I watched many videos and read document about it, it didn’t become clear in my mind. If anybody can help me to understand this matter clearly I would be appreciate.

So I know a single texture file can store roughness/specular/metallic information per channel.

My follow questions:

1 ) How can I know which channel contain/store which material information(as in roughness/specular/metallic)?

I am asking this because every time I watch a video about it, every texture pack that has been downloaded from FAB/Quixel/Poliigon etc… has different channels assigned to those tasks. Some use green channel for specular, some red, some blue…Should I open the texture on Photoshop and check channel by channel to identify which is what?

2 ) Assuming I'll get a clear answer to my prior question, I have another one here directly related to it. I created a master material watching some guides. And same thing was going on that video too. The textures were used in the tutorial linked to different channels than mine.

So in that case, depend on your texture's channel usage, you have to edit your master material file and swap the necessary channel links? Of course this would break all of the previous materials too. So then We have to make duplicates of this master material and adjust the channel based on our needs. I was wondering is this the way, everybody doing the same?

But still my 1st question is matter most to identify which channel is what. 

Thank you.