The answer text is the actual text of an answer. It can consist of one or more lines, depending on the answer type. You can format the answer text which is displayed in an editable field in the Answer panel.
You can insert the answer text in the same way as the question text: you can insert the answer text in a wizard form, in a classic way or from the library of common answers.
The classic way means that you type in the answer in the editable box of the Answer panel (see Add answer item).