Looks like a fine flow for achieving what you describe. Since Question has a *-* relation to Option (or Answer) you will not be able to use 'Set' for Question to override the existing association(s) to Option. There for you will indeed need to loop over TempOption.
You can simplify this flow a bit by replacing the Loop over Option + the commit by one Delete activity.
There is a CommonityCommon activity 'copyAttributes' but that does not copy the associations.