The INP1 TV assessment is to find a story and then shoot/edit/write it as an OOV and CLIP. Here is the assessment brief…
So what do we mean by OOV and CLIP?
The OOV stands for Out of Vision. The presenter is speaking, but we can’t see him/her because there are pictures of the story on screen.
The CLIP is another word for soundbite. It’s somebody else speaking.
So an OOV and CLIP has three elements: 1. A script; 2: some pictures that cover part of the script and 3. An interview CLIP.

The overall duration should be around forty seconds — a twenty second script and a twenty second soundbite.
Look at this MAIJ OOV and CLIP. First of all, here’s the script:

And here’s what it looks like on screen:
The presenter reads the first sentence (Top Line) of the story and she is IN VIS (In Vision — we can see her). The rest of the script is OOV (Out of Vision — we can’t see her, but we can hear her.) Then we have the CLIP.

You might find this old Zoom session on OOV and CLIPS useful:
So that’s an OOV and CLIP. It’s really quite straightforward.
If you’re still confused, here’s a bulletin from the MAJ archives. Every story is in the OOV and CLIP format.