Timing starts when confirming the game's difficulty on the main menu (or selecting a new file, if you are not able to select a difficulty).
Beat the game: Timing stops once you have activated a cutscene, elevator or teleport that will lead to the credits or Mission Final screen without any further player input.
Collect all Sky Temple Keys: Timing stops once you have at least one of each available Sky Temple Key (Sky Temple Key 1, 2, 3, etc.) currently collected.
The only permitted emulator is Dolphin, running on version 5.0 or later.
ISO inspection/ROM inspection/memory inspection/software reverse-engineering that determines item locations or elevator destinations of the race seed prior to or during the race is banned.