newbie question, would appreciate some knowledge on this

Ok this is the scenario, have a blog with some affilate banners on it. Purchased some decent traffic and now i am having like average of 100 impressions every 15-20 minutes but havent seen any clicks. Now my question is how will this look to the AM if i am getting like 2-5 conversions per day?

You're fine so long as the conversions are not coming from your computer and they aren't putting their name as big bird @ 123 sesame street. AM's usually pay no attention to the clickthrough/impressions UNLESS they get a complaint about your traffic not backing out. 2-5 conversions a day? That's very small. It's unlikely that anyone will complain unless we're talking about $20 leads. If you had 50-75/day they might take a closer look. If you can rotate the banners with javascript and split it up so that you're running like 20 offers across 10 different networks with 2-5 conversions/day on each you can make some bank while staying under the radar.

do you think it would matter what time all of your conversions and impresssion are ?

I seriously doubt anyone is going to look at that to be quite honest. They don't go around behind you to make sure everything is legit. From my experience, they just send the check unless some irregularity literally jumps into their lap. 95% of the time the thing that does you in is a complaint from the advertiser which causes them to take a closer look and at 2-5 leads a day that is pretty unlikely.

oh so AM only really look into you if there is a complaint filed?