F.02: Tracks
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There are six different types of race events in NFS:MW...

F.02.a) Circuit
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A standard race around the city streets. Each racer must complete two or 
more laps around the course. Circuits are more forgiving of mistakes than 
most other races as they are longer and you'll usually have plenty of 
distance to make up lost time. You definitely want to be in first place 
going into the last lap, and starting the race in first doesn't hurt 
either.

F.02.b) Lap Knockout
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Lap Knockouts are circuit races with slightly shorter laps (on average) and 
the last place competitor at the end of each lap is disqualified ("knocked 
out"). This means there's not as large a margin of error as in the normal 
circuits--you can't be in last place at the end of any lap. The number of 
laps is equal to the number of competitors less one. I.e. if there are four 
racers total (including you), there will be three laps. All Lap Knockout 
races in Career Mode are three laps.

F.02.c) Sprint
~~~~~~~~~~~~~~
A race from point A to point B through the city streets. Rather than a 
number of laps, the leaderboard will show the percentage of the race that 
is complete. With sprints, it is important to get a good start and maintain 
the lead. Use nitro at the beginning of long, relatively straight portions 
of the course to build up a cushion over your opponents.

F.02.d) Speedtrap
~~~~~~~~~~~~~~~
Speedtraps are sprints; but, to win you must have the highest cumulative 
speed as measured by photo speedtraps spaced along the course. You don't 
necessarily have to cross the finish line first; however, if you are not 
first, you lose some points from your total. Winning a Speedtrap is all 
about keeping your car under control and nitro-boosting through the traps 
shown on the mini-map.

F.02.e) Tollbooth
~~~~~~~~~~~~~~~~~
Tollbooth Time Trials are only available in Career and Challenge Series. 
The time to each checkpoint is fixed and does not vary based on the type of 
car you use in the race. Any time left on the clock when you reach a 
tollbooth is added to the time remaining to the next tollbooth. E.g. if you 
have 0:17.20 remaining when reaching a tollbooth, and the time available to 
reach the next tollbooth is 0:45.00, you will receive 0:45.00 + 0:17.20 = 
1:02.20 to reach the next tollbooth.

To make Tollbooth races easier, always use whatever car has the highest top 
speed and best acceleration. Handling is less important since your only 
enemy is the clock and you don't have to worry about other racers. Just 
make sure you can handle the car well enough to keep from slamming into 
walls. 

F.02.f) Drag
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A straight-up test of your speed and shifting ability--you have to manually 
shift gears in a drag race. In a drag race, you do not have to steer your 
car along the course, the computer does that for you. All you have to do is 
give quick taps left or right to dodge traffic. And there's a lot of 
traffic.

You must also learn to shift properly by watching the shift icon at the top 
center of your screen. If you shift when there's no icon, you get an Early 
Shift and you lose some speed. If you shift when the icon is blue, you get 
a Good Shift and gain a little speed. If you shift when the icon is green, 
you get a Perfect Shift and gain more speed. If you shift when the icon is 
red, you get Over Rev, lose speed and possibly burn out your engine.

Drag racing is about timing your shifts so you get as many Perfect Shifts 
as possible and memorizing the traffic pattern so you can dodge 
appropriately.