Amazon RDS MySQL limitations
Yes, these values can be changed (within limits).

1. max_connections

You can change this value via parameter groups. The maximum allowed value is 100 000. Note that you are also constrained by available memory (1 GB in your case).

2. max_questions

This value is stored per user in the mysql database table user. The default value is 0, which means "unlimited". The column type is INT, so the maximum value is 4294967295.

You can check the current values like this:

SELECT `User`,`max_questions` FROM `mysql`.`user`;