Tell me about Part 107

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I have been thinking about part 107 for awhile now, but I am still confused about it.

What is the step by step process?
What is the actual maximum cost?
How long does it take?
How difficult is the actual test? Is one of these study courses advertised all over the place actually worth it or are they just scams? Is there a legitimate free version available?
Is this something that someone with a very limited budget and time could do?
If I have the 107 can I still fly recreationally? Can I use the same drone? How do I draw a distinction between flying recreationally and flying commercially?
Is any kind of renewal required?
Do I have to mark the drone in anyway?
Are there any extra hidden or indirect costs I might incur?
How much would commercial insurance cost? I know the State Farm policy is not meant to cover commercial operation, and I don't think AMA will work either.
 
Is one of these study courses advertised all over the place actually worth it or are they just scams? Is there a legitimate free version available?
I keep a list of paid/free FAA Part 107 courses/guides used by pilots in this forum here.
 
I have been thinking about part 107 for awhile now, but I am still confused about it.

What is the step by step process?
What is the actual maximum cost?
How long does it take?
How difficult is the actual test? Is one of these study courses advertised all over the place actually worth it or are they just scams? Is there a legitimate free version available?
Is this something that someone with a very limited budget and time could do?
If I have the 107 can I still fly recreationally? Can I use the same drone? How do I draw a distinction between flying recreationally and flying commercially?
Is any kind of renewal required?
Do I have to mark the drone in anyway?
Are there any extra hidden or indirect costs I might incur?
How much would commercial insurance cost? I know the State Farm policy is not meant to cover commercial operation, and I don't think AMA will work either.
I just received my part 107 certificate.
The cost to take the test at an FAA approved facility is $150.
Your certification is good for 2 years, and it will cost another $150 to renew it
I used the RemotePilot101.com lessons, which cost $149.
There are a lot of freebie sites and other sites with a cost.

You'll need to know and understand sectional charts, types of airspace (types B, C, D, E, and G, restricted and prohibited areas, MOAs, NOTAMs, Weather, Operating limits, Crew Resource management, and a few other things).

The test is 60 randomly selected questions and you need to pass with at least 70%. The FAA doesn't release the question pool, but they have released 40 sample questions, which you can find on line.

Yes, you can still fly recreationally, but you need to discriminate whether your flying under recreational rules or Part 107 rules. For example, recreationally your max altitude is 400 feet AGL, while Part 107 allows you to fly 400 feet above a structure (within 400 feet laterally of the structure). Recreationally you may not make any money or have your stuff used by anyone with a fiduciary interest - so you couldn't take Real Estate pictures and give them to your Realtor friend for them to use.

You'll also have to register your drone for Part 107 use, which is no longer required for recreational use, but you can still use it recreationally.

I think I got all your questions. Good luck
 
For example, recreationally your max altitude is 400 feet AGL
FWIW, while it's a great idea to fly below 400 feet AGL, there is no law requiring that. A complete list of hobby flying laws can be found on the FAA's website here.
 
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