Start a new race and select the "Begin Career" option. At the "Register" screen, enter "Go Bears!" for Stock cars, or "Go Bruins!" for Formula One Cars.
Pause the game and go to the Race Strategy screen. From here, press and hold L1 + L2 + R1 + R2 + X + Circle + Select.
While racing, pause the game and go to Race Standings. Now press Circle + X.