No, Iceland is not further west than the prime meridian (zero degrees latitude).
Yes, Iceland is further east than the prime meridian (zero degrees latitude). The midpoint of Iceland is further east by approximately 170 miles (274km).
Yes, Iceland is further north than the equator. The midpoint of Iceland is further north by approximately 4,488 miles (7,223km).
No, Iceland is not further south than the equator.