Instructors can deliver online, automatically-scored assessments and surveys. They can create such assessments from scratch or draw upon personal, institutional, or commercially-available "test banks" of questions. Question types include Calculated Formula, Calculated Numeric, Hotspot, Jumbled Sentence, Likert Scale, True/False, Multiple Choice, Multiple Answer, Ordering, Matching, Fill-in-the-Blank, Short Answer, Essay, File Upload, and Binary Choice. Assessment questions can be given all at once or one at a time, can be timed or un-timed, and assessments can be taken multiple times or only once. 

This video is for version 7 of Blackboard, but will get you up and running with Assessments for any version you may be on.