Evo, DFC has given you a neat mechanism for doing it right, but I have two other comments.
Firstly, and perhaps most importantly, I don't believe that doing a hold is a requirement of the IMC test. I certainly didn't do one when I took my test. Quite what happens if you had to do one because ATC needed you to, and you mess it up, I am not sure.
Secondly, in the example you gave you said you were tracking to the beacon on the 295deg radial. If this were the case you would be doing a teardrop entry. I am guessing you mean your course was 295deg, in which case you are actually tracking to the beacon on the 115deg radial. If tracking TO a beacon on a given radial your course is always the reciprocal of that radial.