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iText 5 is the previous major version of iText's leading PDF SDK. iText 5 has been EOL, and is no longer developed. Switch your project to iText 7, integrating the latest developments.
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If you loaded the license key and there was no exception thrown, it is loaded correctly.

For the core iText library, the license is only checked when you load it. If you loaded the license key and there was no exception thrown, then it loaded perfectly fine. The add-ons will regularly check the license key. If there is an issue with your license key, the library will throw a LicenseKeyException. The possible exceptions and how to resolve them are described below.

If you want to check the license key manually, you can call the following method:

Java

LicenseKey.scheduledCheck(null);

C#

LicenseKey.ScheduledCheck(null);

This will throw a LicenseKeyException when the key is invalid or corrupt.