Hi,
With the premium license you can certainly execute the test library (on the machine the license is installed on). Please take a look at the following site, there you will see all the features of the premium license:
premium licenseThe runtime license is used on a machine if you only want to execute your test scripts and if you don't want to use all the other tools like the Spy or the Studio, ...
Regards,
Markus
Ranorex Support Team