[FatalLace]

unless there have been wholesale changes to the monarch system, the items you receive at lvls 10, 20, 30, 40 consist of a non-stat green weapon for your class, nublet rings (silver, bronze, etc, non-boss) and some decaf cash shop items like 1hour warrant or 1hour 20% exp boost.

the rewards are automatic and do not need to physically be given from master to apprentice. the rewards will show up in their 5th inventory slot, same as academy rewards.

to my knowledge there are no pets given out, again unless there have been changes. there's no logical reason for a new player to not become someone's apprentice. the rewards are well worth it.