301 Redirect a domain name that already have pagerank to your new domain name and wait for Google next pagerank update. It's fake pagerank, there are many ways to check if the pagerank is faked or not. It's good to know but don't do the trick on newbies.
It is possible. if you redirect your domain to another domain with higher PR i.e google.com your domain's PR become same as google, but fake. you can check PR status is fake or not on several tools available out there. validate page rank is one of many tools.
a lot of people on DP that advertise they are selling links with a certian PR use a fake page rank to trick newbies. Be very careful.