no you can use one of the ports to get signal from your integrated graphics located on the cpu itself. to get dual you need a dedicated graphics card
That motherboard will work with 2 monitors just fine if you are using Windows 7 or Windows 8 most likely Vista also. Intel integrated GPU's have supported dual monitors for a while now. I know the 3000 and 4000 atleast support it. I am not a expert on intel hardware but have worked on quite a few of them and have had many of them connected to to monitors when working on them and they do work just fine.
It is a definite yes depending on the hardware you are using. In the case of this motherboard dual monitors work just fine.