It's my understanding that a chunk doesn't thread onto the hook, rather, it's just hooked through and allowed to be more free? Is there any advantages or disadvantages to this verses using a trailer that is threaded onto the hook and fit over the keeper?

With a plastic chunk you can have it sit in the bend of the hook like you described, but you certainly can thread it as well.  Some people will thread a piece of worm or senko on the hook shank and place a chunk on the bend, that way when the skirt opens up under water, the profile stays intact and the chunk doesn't ball up on the hook.  And you're correct that there's increased freedom of movement when tipping the jig compared to threading.  I do both infrequently and personally use a beaver most of the time.  

 

This video is more info than I have.

 

 

scott

 

always thread a chunk on.. esp on finesse jigs.. holds better and makes more compact.. My go to are Berkley Maxscent Meaty Chunks

Works either way. I personally thread everything on. I don’t like nose hooking them. I like keeping the package small