Hiberfil.sys Turn Off or On?

Windows has a Fast Startup feature that, as I understand it, copies the contents of memory into a hiberfil.sys file on shutdown. I have a few questions regardin this:

1. First, is this a feature that works on a Parallels Desktop VM? Or if, when I exit out of Parallels, the hiberfil.sys file is wiped clean?
2. If it does work, does it save all of the contents of my Mac's memory, or just the memory allocated to the virtual machine? I can imagine it getting quite bloated if the former.
3. Should I enable or disable the hiberfil.sys?

Thanks in advance for any assitance rendered.