Heat olive oil in a deep, large pot over med-high heat. Add ground beef, season with chili powder, cumin, salt and pepper, and cook for 3-4 min, breaking up meat.
Add chicken broth, strained tomatoes, salsa and instant rice, stirring to combine. Cook on med-high heat, stirring often, for 13-15 min or until rice is completely cooked.
Stir in black beans, red onion, peppers and corn and cook for another 2-3 min. Remove from heat and stir in cheese.
Serve in large bowls and top with diced tomato, avocado, sliced jalapeno pepper, cilantro, salsa and sour cream.