Can I add keywords found in Keyword Research tool to the product so I can track it in the Keyword Rank tool?

Yes, select desired keywords in the results list, select product in the drop down list above the search results list and click on Add keywords to product button.

Can I exclude unwanted keywords?

Yes, you can now show only relevant search results in your Keyword research list, with quality prospects. Exclude unwanted keywords and speed up your keyword research process.