1)
Does one find Chachmah?
1.
Malbim: Yes. It is not acquired via investigation, like Binah is. Rather, it is received from Hashem. Happy is one who found all the laws of Chachmah and acquired them. This is like one who finds a Metzi'ah - even though he found it outside, he acquires it.
2)
Why does it say "Yafik Tevunah"?
1.
Rashi: He learns Chachmah until it is fluent in his mouth to take it out (say it by heart).
2.
Malbim: One takes Tevunah from his Da'as, until he understands a matter from a matter. Tevunah is not the same as Binah. Tevunah is if one contemplates the Klal of the matters and knows all matters of Binah in all their divisions.