Alessandra Arza earned the award for the second straight year, while it is the first for Katherine Zhu.
Marissa Chow and Hira Naveed both tied for fourth place.
Pepperdine is tied for second place heading into Wednesday's final round.
The third and final round is Tuesday at the San Luis Obispo Country Club.
Pepperdine's fall season has come to an end and the Waves will be back in action in February.
Owen Main's photos of the Waves in action at San Luis Obispo Country Club.
Jeff Golden's photos of the Waves at El Caballero Country Club.
Jeff Golden's photos of the 2014 Bruin Wave Invitational, at which Pepperdine finished second.
Jeff Golden photos from the first round of the Northrop Grumman Regional Challenge.
CAREER: In two seasons, has played in 24 rounds with a scoring average of 78.96.
PEPPERDINE 2014-15: Played in four tournaments as a sophomore (and was in the lineup twice) ... Averaged 78.42 strokes in 12 rounds ... Best finish was a tie for 56th at the Bruin Wave Invitational ... Best round was a 1-over 74 at the Dick McGuire Invitational ... Earned WGCA All-American Scholar honors ... Earned WCC All-Academic first team honors, WCC Commissioner's Honor Roll "gold" honors and was a Pepperdine Scholar-Athlete.
PEPPERDINE 2013-14: Averaged 79.50 strokes in 12 rounds as a freshman ... Was in the lineup for three of her four tournaments ... Best finish was a tie for 29th at the Anuenue Spring Break Classic ... Best round was a 1-over 73 in the first round there ... Earned WGCA All-American Scholar honors ... Earned WCC Commissioner's Honor Roll "silver" honors and was a Pepperdine Scholar-Athlete.
AMATEUR/JUNIOR GOLF: Was the third-ranked junior in Paraguay in 2012 and ranked fifth among all women's golfers ... Won the 2012 Bob Jones Invitational at Yorba Linda ... Finished second at the 2012 Paraguayan Match Play Championship ... Took 10th place at the 2012 AJGA Junior Challenge ... Has represented Paraguay at various South American tournaments.
HIGH SCHOOL: Graduated from Asuncion Christian Academy in Asuncion, Paraguay, in 2013.
PERSONAL: Born in Pasadena, Calif., and moved to Paraguay at the age of 3 ... Daughter of Osvaldo and Veronica Arza ... Has one sister, Giulianna ... Chose to attend Pepperdine because "I felt it was the place where God called me to be. Every door opened up at Pepperdine and since the moment I heard of it, it became my dream."
FAVORITES: Enjoys watching movies, reading, eating, having new adventures and being involved in church activities ... Favorites include the Centenarioo Club in Paraguay (golf course), The Help (book), Silver Linings Playbook (movie), The Big Bang Theory (TV show), pasta (food) and soccer (sport other than golf) ... Favorite thing about golf is "it is challenging in every aspect, and wanting to overcome the challenges makes me love it, because the challenges are where I learn the most."