@Savvas
yes, there is a reexamination fee to be paid should you fail ($275 for PMI members), and you have a one-year eligibility period with two more attempts to take the exam. You will find the details in the PMP Handbook, linked
here
.
I don't know whether there is a minimum amount of time between two attempts, but — depending on the results — I will decide how much time I need to improve my performance to increase my chances to pass. Also, as Cornelius always recommends, try to focus on what you can do not to fail rather than thinking about «what if I fail?». It's a shift in your perspective, and I believe it is helpful!
Talking about perspectives, the exam change in January shifts perspective in focusing on People, Process, and Business Environment; I would recommend to take a look at the new exam outline for a better understanding.
Also,
here
is the link to a live event on YouTube where Cornelius Fichtner discussed and answered questions about the new PMP exam. I'm sure you will find it helpful.
@RaidanZ
I'm sorry to hear that you feel way less confident after taking the exam simulator. If anything, I would recommend to focus on the questions you answered incorrectly, not only in terms of "areas for improvement", but specifically on trying to understand not only why the correct answer was the right one, but also why the option you chose was wrong. When I practiced with the PMPrepCast I find it very helpful.
Gabriella