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Once you've got the file, click on Tests, Surveys and Pools on your Course Tools menu.
Click Pools.
Click Import Pool.
Click Browse My Computer.
Locate your test bank and double-click it. Then, click Submit and your test bank will be imported. You can then add the questions to tests.
Manage Banks under Question Banks in the course's Details and Actions menu.
From inside this space, you will see either a prompt to build a new question bank, or any existing question banks. Click on the Add Content button, then select Import From File.
Locate the zipped file on your computer and select Open to begin the import.
The import will begin automatically. When it is complete, you will receive a notice that the bank is now added to your list of question banks, and can view it in that space.
Once the bank has been added to your course, you can now add it into a test. Enter the test you wish to add the bank to, and click the New Content Button. Select the Add Question Pool from the resulting dropdown.
A new window will open to show a list of all available questions from all available sources. The Bank you have imported should be visible in the Questions Banks section of the list. Checking it will show all the questions inside that bank; you will be free to select as few or as many questions from the bank as you wish. Click "Add Questions" at the bottom when you have finished selecting questions, and the selected questions from the bank will be added into your test.