Yes, it does. You can separate each answer by "-"
You will have :
strAnswerList = WHEEL OF FORTUNE - MARSHMALLOW- BEACH VOLLEYBALL
To get an answer :
tokenat(yourWord, answerID, "-")
answerID will start with 0 for first answer.
When player correct the answer, you will need to add 1 to answerID and start the loop again to get another answer.
It will work for SpriteFont and Text.
But I suggest that using Text to save size of your game.
Or you can download TagText if you want it beautiful.