Not demanding all the competitors appearing honest? (5-5)
I believe the answer is:
entry-level
'not demanding' is the definition.
(entry-level means undemanding or easy)
'all the competitors appearing honest?' is the wordplay.
'all the competitors appearing' becomes 'entry' (everyone who has entered a race).
'honest?' becomes 'level' (level can mean fair or honest).
'entry'+'level'='ENTRY-LEVEL'
(Other definitions for entry-level that I've seen before include "Simple enough for a beginner" , "Suitable for beginners" .)