This is good business initiative if you attract lot of users with incentives for top users. Since more questions & answers posted means more regular content which means lot of traffic from low competition keyword searches …

Create an Auto-Pilot Question Answer Site with WordPress Question Answer Themes, Plugins
# AskIt WordPress Theme: Most Professional Looking Q&A Theme [Best]
AskIt is perhaps the most advanced theme created, and effectively transforms your blog into a fully functional question and answer site. AskIt allows your visitors to post their questions and have them answered by fellow members.
Any visitor can post answers to these questions which are then voted on by the community until a "correct" answer is chosen by the question author.
# Answers (Link) – Turn WordPress into Question Answer Portal
The homepage features all the latest questions asked in a strategic, easy to use way with different tabs to quickly check "popular" or "unanswered" questions. The sidebar features many custom widgets such as "Top users", "Most active questions" etc.
→ Download Answers Theme | Demo
This theme features our awesome single click auto install feature. You won't have to set each and everything step by step (like you do with competitor theme). Simply activate the theme and this theme auto populates sample questions, and answers and does the basic settings (you can remove them with single click).
# WP-Answers (Link) – WordPress Question Answer Plugin

→ Click Here to Get WP-Answers Plugin | Demo
Utilizing the power of the WordPress blogging system, they have created a plugin which will transform it into a question and answers site. Users can register to ask and answer questions posed by others. Its a great way to foster interaction between your site members.
These themes cost like regular wordpress themes… but I think its money well spent if you have well planned ideas to attract many users to your question answer website through your influence or incentives, gifts, coupons etc for top users.
There are various sites using this themes to draw in some extra traffic and revenue from user generated questions & answers like forums. For eg: Labnol, AmitBhawani & makeuseof.
Setting Up the Question Answer Website with WordPress Question Answer Themes
Step 1 : Buy a copy of any of the wordpress question answer configured theme mentioned above.Step 2 : Set Up wordpress on your domain from your hosting account dashboard.
Step 3 : Upload the theme folder to the theme directory at public_html/wp-content/themes using ftp or the file manager.
Step 4 : Now go to your wordpress Dashboard > Appearance > Theme . Select and Apply.

Step 5 : Once Applied you will see the theme in action already. But there are some settings to manage. You can generally access the various theme options from the new links added in the wp admin sidebar.
*Step 6 : Read the documentation about configuring the theme properly. There are many simple manual settings that need to be done before your question answer site works properly with wordpress.

For eg: Specific few new pages like "Ask a Question" etc needs to created as well as to be assigned with a specific page template. Other pages like options for password change, edit profile etc for users will have to be created too at the beginning.
Done… The whole setup takes simply 10-12 minutes to complete, after which you get a live question answer website with WordPress. In case you are having problems let us know…
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