The flight instructor and the pilot were performing a simulated forced landing. The flight spiraled down, the gear and flaps were lowered, and the airplane overshot the runway centerline on the turn to the final approach. The pilot did not maintain a stabilized airspeed on final. The airplane sustained substantial damage when the airplane landed hard on the runway. The flight instructor reported that he attempted to correct the flight "but the aircraft was too slow to respond due to the loss of airspeed caused by the final flare." Neither the pilot nor flight instructor listed any mechanical malfunctions with the airplane. The flight instructor's safety recommendation stated that he "should have aborted the landing at the first indication of an error by the pilot."