I haven't noticed anyone put in the last line, as I assume you have an instructor or perhaps a renewal
"If the real thing happens I will fly the aircraft, you will monitor the airspeed, we will both confirm the dead engine before we feather it. Are you happy with that?"
I would consider it important that the allocation of responsibility if the real thing happens is very clearly understood and whether the person in the right seat takes over or helps out depends on the nature of the flight.