Transfer Midterm Report?

So I just received my acceptance as a transfer student for the fall a couple of days ago, and on the mynova portal it lists a transfer midterm report under the requirements section. Can any past transfers explain what this is? I assume it is just to check up on progress but i would like to be sure.

Did you get housing on campus and did you apply undecided. Because I am sending in my application this week and I want to apply for the business school but applying undecided gets me more chances.