What was found
DURING A NEW HIRE INITIAL TRAINING FLIGHT, NR 1 ENGINE QUIT. DEPARTED A CONFINED AREA WITH A SIMULATED ENGINE FAILURE OF THE NR 2 ENGINE. THE SIMULATED NR 2 ENGINE FAILURE WAS INDUCED BY THE INSTRUCTOR WITH PLENTY OF OBSTACLE CLEARANCE PAS VTOCS, ACCELERATING TO VY. ALSO THE NR 2 THROTTLE WAS ROLLED BACK ONLY PARTIALLY AS A SAFETY PRECAUTION. OUR FIRST INDICATION WAS A "BANG" WITH A SPOOL DOWN OF N1 AND A NR 1 ENG OUT LIGHT. WHILE PILOT FLYING (PF) CONTINUED TO CLIMB AT VY, THE PILOT MONITORING (PM) CALLED OUT SINGLE ENGINE FAILURE, CHECKED NR, WHILE SIMULTANEOUSLY ROLLED THE PARTIALLY RETARDED.