Do I need to cook smoked beef before eating?
What it looks like you have there is a Pastrami. Though not a particularly 'good' one, perhaps made from Eye of Round rather than brisket. It has been brined (soaked in a salt solution) in order to preserve the meat and then smoked (most likely to an internal temperature of 175°F (80°C)). This should make the meat 'completely safe' from food borne illnesses and is good to eat either cold (which I prefer) or hot (as in a Reuben sandwich). It is typically shaved (sliced very thin). 

It should be stored wrapped in a cold place (the fridge). It has a reasonable shelf life, you might check to see of there is a 'best by' date, beyond that it would be impossible to say 'how long it will last' as there are just too many unknowns.