Just to make one thing clear... this is not the first race. Its something required to rank you for the real races.
When you submit your time with the Evo VII GSR on Midfield to Boom, he will place you in one of the three categories. Either Pro, Amateur, or Beginner. He will indicate this to you by PM. You will then be able to race in the weekly race series.. which is currently at week 26. Results are displayed in a separate thread such as Weekly Race Series, Week 25 - RESULTS which is the thread with all the results from the Week 25 challenge.