TECEP confusion

[Salamander]

I was thinking about taking a tecep, was expecting a simple registration process, but it doesn't seem to be. If anyone who has taken the test could help me out I would be very grateful. Does TESU send you a code and you can take the test via ProctorU immediately? What's the deal with the late fee? Should I select a term a month or so out or does this only apply to normal classes. Thanks!