Boil a large pot of salted water and cook the pasta according to package instructions until al dente, about 8-10 minutes. Drain, toss with olive oil to prevent sticking, and allow to cool completely.

In a mixing bowl, whisk together the olive oil, mayonnaise, white vinegar, granulated sugar, Italian seasoning, garlic powder, and salt and pepper until smooth.

Chop the red and green bell peppers, grape tomatoes, salami, mini mozzarella balls, pepperoncini, red onion, and olives into bite-sized pieces.

In a large bowl, combine the cooled pasta with all the chopped ingredients and freshly grated Parmesan cheese. Gently fold together.

Pour the dressing over the salad and toss gently until everything is coated. Adjust seasoning with salt or pepper if needed.

Cover with plastic wrap and refrigerate for at least two hours to allow the flavors to meld. Toss before serving and enjoy.