Is the name "James Bond" Agent 007's official cover alias, a non-official cover, or the man's real name?

Clandestine agents are often given an official cover, such as in embassy postings, whereas if said cover is compromised, the home government can protect them. Non-official cover agents are fucked if compromised. So, my question is, James Bond travels the world, most of the time telling people he's James Bond, either some sort of businessman or a Commander in the Royal Navy. He sometimes assumes another, seemingly randomly picked name, but usually Bond doesn't seem to care whether the world knows he's a British spy. Is the name "James Bond" an official cover for Agent 007, his non-official cover, both, neither? Is his rank in the Royal Navy officially recognized? Is it his given name?