hello there. Wharton is probably the hardest one to get into. Try to keep your WAM when applying to be at least 85 (that is high distinction at uni) to be competitive. The other things to be handed in are the same for applying to any exchange partners: resume, statement of purpose, letter of recommendation, credit transfer forms etc. It's a long process.
After you get the Wharton nomination, there will be more to do requested by UPenn, eg more questions to answer, application forms, housing etc...
Best advice is to keep a high WAM, which is the main differentiator. One, maybe two gets a Wharton place every semester. So yeah, hope this gives you more information.
Regarding QMA, don't worry about it too much, it's pretty easy, just keep on top of each week's work
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