chequered flag?

[UVanderMeer 0]

Why is there a chequered flag with 2 minutes to go? I also had this in a qualifying session that ruined my last fast lap.. 

[Andrew210227 208]

During FP and Qualy, when the clock hits 0:00, the checkered flag comes out and the game gives you about 2 minutes or so to complete your lap, which then is shown in the top right corner as per your screenshot. You need to make sure you cross the line before the INITIAL clock hits 0:00 to complete your lap.