Protecting Children from Sexual Exploitation Act of 2005 - Amends federal criminal code provisions regarding child sexual exploitation to apply recordkeeping requirements applicable to visual depictions of sexually explicit conduct to pictures, digital images, and digitally- or computer-manipulated images of actual human beings. Prohibits any person to whom these provisions apply from refusing to permit the Attorney General to conduct an inspection of records at that person's business premises at a reasonable time. Establishes recordkeeping requirements for simulated sexual conduct.