After you have created your question bank, The Settings tab (1) may be used to set up a quiz for Blackboard. Click on Other Settings (2) from the left menu. Here you can create question sets for random selection of questions in a quiz and input all of the same settings you are given in your course management system.
The only settings you cannot set-up in Respondus are Selective Release settings. You must log into your course to set those up.