From Longman Dictionary of Contemporary Englishcheckered flagˌcheckered ˈflag (also chequered flag British English) noun [countable] DSOa flag covered with black and white squares that is waved at the end of a motor race
Examples from the Corpus
checkered flag• Peter waved Earnhardt into heaven with a checkered flag...• Labonte spun out as he took the checkered flag, still the winner but battered and bruised by Earnhardt's persistence.• Carelli, winless since mid-June of last year, lost a five-second lead with the checkered flag in sight. 