@maronded
No, this is not currently possible using the formula question type.
Each question is independent of other questions. This is true of all questions, not just formula question types.
Some people will try to say that you can do this with the stimulus question in New Quizzes, but you cannot. You cannot use a formula question as a stimulus question and there is no way to specify values in the stimulus question that trickle down and can be used in the question under it. This goes back to each question is independent and self-contained and cannot share information with other questions.
There is a feature idea open for this and a discussion of the work-arounds: https://community.canvaslms.com/ideas/2363-new-quizzes-multiple-answers-in-a-formula-question
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