VELC has been developed as an English proficiency test for Japanese university students (normed to a large population of such EFL learners), unlike the TOEIC. I have excerpted the abstract from the article's online PDF. VELC stands for 'Visualizing English Language Competency'. It takes about 70 minutes to administer a version of the test to a group, while the TOEIC takes about 3 hours.
The authors have developed a new competency test to make visible the English-language skills of Japanese university
students as much as possible. The test divides the two sections of listening and reading into three parts each, measuring listening
,(vocabulary (L1), connected speech deciphering (L2), and listening comprehension (L3) along with reading vocabulary (R1
sentence structure awareness (R2), and reading comprehension (R3). Equating data from trial testing of approximately 5000
Japanese university students, using a Rasch model, makes it possible to compare scores on the same scale no matter which of
multiple forms the test takers used. The test’s coefficient of reliability is higher than 0.95, and its multiple correlation coefficient
to TOEIC scores is 0.82. Feedback on results is provided through a Web-based e-Portfolio that can be described as a record of an
individual’s English-language ability. Students also can use this test to ascertain changes in their own English-language abilities
by taking the test periodically. As a result, it can be expected to see a variety of uses that have not been possible with previous one-time testing.