stevea: It's what I call a "layered clue", and I think it's full of Americanisms.
When academic year begins, what sophomores are in a business major? (8)
When academic year begins: FALL (in US universities the academic year is divided into fall and spring terms).
what sophomores are: BACK (they're second-year students, back in the fall).
a business major?: Many students who enter college as physics or chemistry or engineering majors switch to business or gender studies or some other less sleep-depriving major in their second year- a fallback.