New Quizzes is a quiz engine that integrates with Canvas as an LTI tool and replaces the classic quizzes functionality currently existing in Canvas. Instructors can use New Quizzes to create quizzes using a variety of questions types. New Quizzes display as assignments in the Assignments page and can be duplicated. Students can take New Quizzes quizzes within their Canvas courses. New Quizzes reports, statistics, item bank search, and item bank tagging are not supported in the Canvas beta environment. Outcomes added to Canvas in the beta environment after the beta refresh will not display in the New Quizzes beta environment. Outcomes must be added to the production environment to display in the beta environment. New Quizzes cannot be used in the Canvas test environment.
From Canvas Basics Guide > What is New Quizzes? | 
