Team complete. So training arc next? Then again, it's not like two of them needs much training...
Raws are out to 34 so it would simple enough to look and see what happens in the next coming chapters, but without doing that I'm trying to wrap my head how many differing types of exams the school has. There's the apparent battle promotion exams for advancement within the 3 classes, the individual exams (which I can only assume are combination of written & practical, since that's kind of standard fare), and then apparently this newly introduced three member class representation / inter-class competition.
If I were just to make my own guess what's actually happening immediately next without looking at the raws is this promotion exam thing, since that particular student said it was "tomorrow," and as best I can tell, Cyrus' introduction (as a character) happened that night, and then as a student on said tomorrow.