Doug, I sense that your LMS admin was giving you the standard reply.
However, you can prove this on your own. Get a free MoodleCloud account, create a course, then go to the question bank and time how long it takes you to create 10 questions. Then apply this sample to your bigger needs.
But of course, you run the risk of your LMS admin saying "If it took you only 30 minutes to create 10 questions, then you finish the job."