Hi Patrick, unfortunately, that is currently the only way and likely will be for the foreseeable future. However, here are some WordPress tips that should make this a lot easier and faster for you – even with over 5000 questions.
From the bulk modify page:
1) On the VERY TOP RIGHT, there is a tab for “Screen Options”. From this tab, you can change how many questions appear on each page (defaults to 20). I don’t recommend going higher than 200 as slow servers / computers might struggle.
2) On the table listing each question, there is a column for “quizzes” which will show which quizzes are attached to each question. If you find one question from a quiz you want to duplicate, you can click on the quiz name which will then filter the list to show ONLY questions from that quiz. This will make it a lot easier to select all of the questions you want to add to the new quiz.
With the combination of above, you could duplicate a quiz of 5000 questions in less than a minute. Hope this helps!