Oracle VTS 7.0 PS16 bootable image is created using the externally available Solaris 11 distribution-constructor functionality. This distribution constructor is an XML specification for building an Oracle Solaris installer ISO image. For more information about distribution-constructor, refer About the Distribution Constructor in Creating a Custom Oracle Solaris 11.3 Installation Image.
Once you load the bootable image, the default Oracle Solaris environment comes up. Open a terminal and login as root, with password solaris, and run Oracle VTS.
For more information on how to load the bootable image, refer the steps mentioned in the procedure, Use the Service Processor to Boot From the VTS Image.