We could find the version using the SQLPLUS Tool:
Start - Run - CMD
SQLPLUS /NOLOG
connect SYS as SYSDBA
Password: ____
select * from v$version;
Yes indeed, Oracles Patching is required to be performed separately on an ongoing basis. Keeping updated with the below link also generally helps:
http://www.oracle.com/technetwork/topics/security/alerts-086861.html