Graded Quiz: Fill In The Blank

Yah, the Convert to Freeform is really just allowing you to transform a non-quiz slide into an interactive, gradeable question or interaction. It's great for situations when a more "conventional" question type (such as multiple choice and true/false) doesn't fit your needs.

So for example if you want to build a multiple choice question where all the answers are simply text-based, you'd go with the ready-made multiple choice question type (Insert > New Slide >Quizzing>Multiple Choice.

If, on the other hand, you were creating a more graphical question where you wanted learners to study 3 different shapes or images, and select one of the actual shapes or images as their answer, you'd start by building your content on a regular slide, and then use the Convert To Freeform option to turn it into a Pick One question (which behaves just like a multiple choice, except the answer choices are objects rather than text).