I'm not sure specifically which 'down for life true story' you are referring to. There could be various stories with that title. It might be about someone's commitment to a certain lifestyle, belief, or relationship for their entire life.
Yes, it is. The film takes elements from real - life diving situations where divers might find themselves in peril, particularly in relation to sharks. It's a way of bringing the very real and very scary possibility of being in the water with sharks to the big screen. The idea of being trapped underwater and the threat of shark attacks are things that can and do happen in real - life diving, which is what the movie is based on.
No way. 'Falling Down' is a figment of the imagination. It doesn't draw from any actual events or people. It's all part of the creative process in the world of storytelling.
Hard to say. You'd have to look at the author's background, research, and how the story unfolds. If it's based on real events or personal experiences, it might be true, but it could also be fictionalized for effect.