I don't know about the "no fail" LOFT scenario..... I guess, technically, it is not a PC, but that don't mean you are good to go no matter what you do.

I was talking to a friend who was giving a LOFT to these bozos and this crew briefed and set the wrong DA and commenced the approach even through they didn't have the required visibility. Once they reached DA, (magically) no runway was available, but they didn't even try to go missed. They ended up flying way below DA without starting a missed approach and actually flew into the ground. Pretty bad.

These guys didn't "fail" a PC because they weren't taking a PC. They also didn't get to finish that day-had a little clean-up work to do on a couple of issues......

-On the jet, a loft can't turn into a pc anymore cause of the 2 days you need. But it can turn into recurrent flight training which is like a pc without the jeopardy. That happened to me.

-Loft's aren't pass/fail, but I've heard of crews who didn't complete them and had to come back.

-Failed fms's seem to be a popular one lately. Green needles and review how to compute descent rates, etc.

Granted I am on the ATR but my LOFT consisted of a loss of oil pressure and then subsequent engine failure. The CA and I decided to land at the nearest airport and did so. The LOFT was done in like 60 mins, our IP was awesome!