C++ SQLite Bulk Updation am i doing it right?

function()
{
if(sqlite3_open(ch, &database) == SQLITE_OK)
{
    const char *pSQL[6];
    pSQL[3] = "select * from TagValues";
    sqlite3_stmt *statement, *statement4;
    char* errorMessage;
    CString csValue, queryStr, Tag;
    if ( sqlite3_prepare(database, pSQL[3], -1, &statement, 0 ) == SQLITE_OK )
    {
        int ctotal = sqlite3_column_count(statement);
        int res = 0;
        sqlite3_exec(database, "BEGIN TRANSACTION", NULL, NULL, &errorMessage);
        while ( 1 )
	{
	    res = sqlite3_step(statement);
            if ( res == SQLITE_ROW ) 
	    {
		for ( int i = 0; i < 1; i++ ) 
		{
		    Tag = (char*)sqlite3_column_text(statement, i);
                    queryStr.Format(L"update TagValues set Value='%s' where Tag='%s'", csValue, Tag);
		    pSQL[4] = T2A(queryStr);
                    sqlite3_prepare(database, pSQL[4], -1, &statement4, 0 );//Question 1: is this really executing in a bulk??? or is it executing right away?
                }
            }
            if ( res == SQLITE_DONE)    
	    {
		sqlite3_exec(database, "END TRANSACTION", NULL, NULL, &errorMessage);
            }
        }
    } 
}
}