Good question! As you probably know, QV2 is an LTI so its not surprising to me that storage is handled differently. Are you asking out of curiosity or are you attempting to fix a certain problem or challenge?
I have been testing it out and discovered or rather not discovered that if I add an image in a question, then I appear to have to keep a copy of the image if I want to use said image in another question. It's not stored locally in the course or anywhere I can see.
To give my academics an idea of what is possible I am using the same images in different question types, as quite often they have images they will use in different questions.
I hope this makes sense
Makes perfect sense. But, to test my understanding are you saying that with classic quizzes, when someone uses an image in a quiz question, a copy of the image is added to course files and accessible to course editors later whereas in QV2, the images appear not to be stored where an instructor or admin can access them?