Timing failure

Hey everyone,

I got this assignment today saying that I have to teach the class I'm in about ignition timing failures. I go to UTI right now and that's what the instructor wanted us to do. Cool thing is that I've learned quite a bit about my 77 280Z. For example: the distributor has a magnetic sensor/ "triggering device" and that it has solid lifters(which is why there's a lot of ticking coming from the engine). My real question is what happens when the timing fails?

I figure it's better to work smarter not harder, so just go here. Hahaha Oh, we haven't gone through timing yet in the class, if anyone's curious.