I'm pretty sure they want it to be labeled as fan art so the public isn't aware its their art test, so putting both fan art and art test kind of defeats the purpose. I would air on the side of caution and remove anything indicating it is an art test for Massive from the image.
I've "quit" large open ended art tests before, it was basically a choice between doing a big 2 week test or the multiple smaller art tests from other studios.
I'm referring specifically to failed art tests as in the art test itself not passing the guidelines. Not passed art tests that any other reason kept you from a job. I've been in the position before of passing a test, then the company losing their game deal and the job simply going away...with the company. btw, danr wins…