A few guys went Stateside in the early days to do a quickie FAA ATP, then back home for the conversion, thus circumventing the requirement to do the seven Aussie exams. These days however, unless someone is willing to correct me, they'll want to see those seven exam passes or else. No shortcuts.
As for the sim exercise: basic handling (no Flight Director), takeoff, straight & level, rate-1 turns, climbing/descending turns, sector entry, approach & landing, etc (although landing not assessed if you haven't flown jets). In other words, the usual stuff. If you haven't flown a jet before, don't sweat it, just as long as your scans are up to speed. They don't expect you to be Superman, but they will be looking for an ability to recognise/correct errors and show steady improvement through the exercise.