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Course Question Banks can be converted to user Item Banks and used in the New Quiz Format. Using the New Quiz Format allows users to share Item banks between users, make edits to bank questions that will update Quiz questions to reflect the edits and Item banks are tied to the user so they can be used in any course. Canvas does plan on releasing it's own conversion tool in the future, however in the meantime users will need to manually convert older Question Banks into Newer Item banks.