Existing Account Simulation can simulate existing Vault Core accounts by retrieving the account state at the Simulation start time. A subset of this behaviour is the ability to specify existing products and retrieve their associated states as of the Simulation start time. (See Existing Product Simulation.)

The Account state or Product state refers to the existence of resources related to an account or product that can be referenced within a Smart Contract hook execution. That is, the global parameters and contract modules (product), or postings and schedules (account).