If you want to create a quiz with multiple choice questions, the Quiz program by Luzius Schneider seems to do the job. The program is free to use as long as we are OK to share the questionnaires we create using the software. The program makes use of the Borland Database engine to easily store and retrieve the questions. There are options to set time limits, provide hints about the answer and even further explanations for an answer if you are interested.
Quiz also has few shareware upgradations which run on the network, a intranet or even the internet.