The pilot receiving instruction reported that during an annual insurance flight review, he was told to perform a short field landing for the final landing. The flight instructor told him to be "50ft. over the numbers at 75 KIAS (knots indicated airspeed), then go to flight idle, push the nose down, and land short". The pilot further reported that on short final he obtained the target altitude and airspeed, then reduced the power to flight idle, and the airplane dropped rapidly. He advanced the power lever but the turbine powered engine was slow to respond due to the spool up lag, and the airplane landed hard and bounced. The pilot reported they taxied back to the hangar with no further incident. The airplane sustained substantial damage to the fuselage. The substantial damage was discovered later during a Federal Aviation Administration (FAA) evaluation for repairs for a ferry permit. The ferry permit was submitted after receiving an engineering evaluation on the structure of the fuselage, to allow the company to fly the airplane to a more appropriate repair station. The pilot reported there were no pre-accident mechanical failures or malfunctions with the airframe or engine that would have precluded normal operation. The flight manual for the PA-46-350P states: for a short field technique, flaps are to be full down, airspeed 78 KIAS, throttle as required. Once over the obstacle on final, throttle reduced to idle. After touchdown, brakes maximum.