Heat 1 Tbsp olive oil in non-stick 12-inch saute pan or deep skillet over medium-high heat.
Add chicken, season with 1 1/2 tsp chili powder, 1 tsp cumin and salt and pepper. Cook tossing occasionally until cooked through, about 7 minutes.
Transfer chicken to a sheet of foil and wrap to keep warm.
Return skillet to medium-high heat. Add remaining 1 1/2 Tbsp olive oil then add onions and saute 3 minutes.
Add bell peppers and saute 3 minutes longer, then add garlic and saute 1 minute longer.
Add in chicken broth, tomatoes, black beans, remaining 1 tsp chili powder and 1/2 tsp cumin and season with salt and pepper to taste. Bring to a boil (liquid should bubble up in the center of pan not just the edges).
Add rice and toss well to coat and submerge in liquid, reduce heat to medium. Cover let simmer 6 - 7 minutes.
Remove from heat, let rest 5 minutes. Stir in chicken, lime juice, cheese and cilantro. Serve warm.