DiveAndDrive

Hello all. I'd like everyone's opinion/thoughts on a matter. I'm a 160 hour private pilot with 20 hours of simulated instrument, working on my instrument rating. Yesterday I was practicing various approaches on my home flight simulator.

I was shooting an ILS. I had set the weather on my simulator to break out at 50 feet before minimums (so 250 feet AGL). The ILS I was shooting was just your typical ILS. 200 feet AGL minimums. I set up the approach and flew it well. I had the needles centered the entire way down. Here's the problem/question.

When I briefed the approach, I mistakenly briefed the LOC minimums (which were 400 feet AGL for this particular approach). Like I said before, I flew the approach well. Needles centered all the way down to what I thought were minimums (200 feet above real minimums). Looked up, no approach or runway lights (or runway), so I executed the missed approach. Came back around, rebriefed the approach, briefed it correctly this time, and landed uneventfully.

Here's the question.

If this would have occurred on a practical exam, would I have failed?

I have a couple different trains of thought.

Good:
1. I never busted the minimums I briefed or the minimums of the actual approach.

Bad:
1. Lost of situational awareness
2. I could have reversed the situation. I.E. Shoot the LOC approach, but brief the ILS minimums, and therefore bust LOC mins by 200 feet.

Thoughts?