Windows XP boot disk - master boot record question.

I created a Windows XP boot disk with the ntldr, ntdetect.com, and boot.ini files. My question is when you boot from the disk does it bypass the master boot record on your hard drive?

I'm trying to figure out if a mbr is created on the disk when creating the Windows XP boot disk, or does the mbr on the hard drive need to be working for the boot disk to work also.

Thanks in advance.