The Hobbyist Registration is just the $5 Registration you pay the FAA to Register your drone. That’s it. There is no hobbyist test at the moment that I know of. I just researched this for myself. Working on my Part 107 now too. We’ll see what they do for Hobbyists over the next several months with the recent changes.
I am brand new to flying drones and I’m educating myself on all the FAA rules & guidelines. I was wondering the same thing. I was going to try using a ‘Label Maker’. The only concern I have is that would cause wind drag and, perhaps, eventually peel off. Just my idea.