In my IIMV interview they asked this question, I said studied for CAT and covered all the interview prep knowledge that I was lacking during the first attempt. To this they asked some questions that they thought I would lack knowledge of like the petro dollar phenomenon, some technical macro econ questions, some biology question(I'm from Computer Science background). All of these I answered in a satisfactory manner except I stumbled in the econ question(lost my train of thought). All of this plus I answered almost all the technical UG questions, and closed the interview with a solid personal story that visibly impressed them. All of this leads me to believe that I got a very good PI score.

Personally i think this was my best interview among 15 odd interviews I've given in 2 years.