Time management and good judgement, if you're about to make an error as PF and the PM points it out in time to correct then whats the problem?
Yes, you should not off made the error, but it was highlited and corrected before it became an issue. If it's joining the hold though, you really only have yourself to blame if you do it wrong, this my go against you, or not? depends on what the guys looking for?
Simple calls from the PM like "speed" "Alt" etc are whats expected, as mentioned, YOU brief your PM as to what you want him to call and at what deviation.
YYZ