This video includes a demonstration of a simulated engine failure after V1 in a Citation Encore. The same procedures apply to the Citation V and Citation Ultra as well.
The altitude/heading clearance was actually for only a few minutes in the future. Since this was a checkride we were departing the airport, immediately turning around and flying an approach back into the same airport, then going missed approach. The altitude and heading were for the missed approach a few minutes in the future.
