For sample rate, use 44.1. Sure, you could use others and there are arguments for using them and not using them. But for starting out, just use that. Do some research into what sample rates are and what the pros and cons are of using the different ones, THEN choose a sample rate that is good for you.

For latency, when recording pick the smallest setting that you can use without causing any problems with the recording like pops, clicks, or any system problems. Start low and work your way up until you find a setting that works well.
During mixing you can increase that value which can improve system operation.

doodle wrote: How do I choose the correct sample rate and latency when using a laptop PC, Cubase LE and a PreSonus firebox? I'm not sure how to find my sample rate in Cubase either. Please Help Someone!!

RTFM!