ILok transferability

Pro Tools 11 is my first exposure to iLok. From what I have read, I get the idea that I can install PT 11 on both studio and home computers from a single license, accessing them by plugging my iLok into the computer I choose to work on. Do I have this right? Anything tricky about doing this? This would really be convenient for all the obvious reasons. My home interface isn't as capable as my studio, but for some editing tasks and for many learning exercises, it will work just fine.

Mickey