Unlike its “big brother,” Adobe Premiere Pro, Elements has an easier-to-use interface, a step-by-step guide for different edits, and is much cheaper. But it can easily be used by different content creators such as marketing experts, influencers, and vloggers. It’s targeted primarily towards video enthusiasts who want to get creative with their memories and people who like to experiment with video editing. Premiere Elements is Adobe’s video editing software for beginners.

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There is no provision for customizing resolution, frame speed, bit rate, etc.

Unfortunately, in Premiere Elements 13 when I create a new project and 'Change Settings' you only get to choose from a list of specific digital formats that Adobe chose to include.

It might just resize automatically to 1240x400 frame, so if this is undesirable, you should disable it somewhere in the menu. Have project set to 1240x400 and import your clip, then resize that clip to your frame keeping or disabling aspect ratio. These are basic operations, Elements should handle that as well.

Adobe premiere elements 13