Identification: What is it: received as a gift

I just got this plant as a gift, but the person giving it to me could not tell me what it was.

So what is it?
how often should I water it?
where does it like to be?

Oh, and I'd like to make it smaller, maybe do some propagating. Any suggestions?

 

Schefflera actinophylla 'Variegata'.

 

Thanks! I found a link under the
'Variegata' name that looks like it, but the name" Schefflera actinophylla" sent me to an Umbrella Plant that did not look like it. I sure hope is does not flower and produce pollen as it says in the link below as I am highly allergic to that!

http://www.magnoliagardensnursery.com/productdescrip/Ligustr_Privet.html

 

It's a Schefflera arboricola 'Variegata' !!! http://davesgarden.com/guides/pf/showimage/4679/

(Only "Variegata" is not a plant name... it means: yellow/or white and green variegated foliage)

 

Lila is right---my bad! I shoulda said arboricola. When you get old, the brain just goes...

 

You won't have to worry about flowering if you keep it as a houseplant. Here, Scheffleras bloom at 12 feet of height.