You can edit and rename assessment items from within the assessment builder. Here's how:
To Edit an Item Within an Assessment:
Hover over the assessment containing the item you wish to edit and click Edit.
Click the item in your assessment or in the item bank below your assessment items that you wish to edit the name of. After previewing the item, click Edit.
You should see the item in the item builder. You can edit the title by clicking on the Title text box in the top left corner of the item builder.
If you would like to edit a question within an item, click the pencil icon located to the right.
Make your changes, and be sure to click the blue Save button in the upper right hand corner. This blue button will change to green to indicated that it was saved successfully.