When a Form Template is first created, it will be as a Draft version and once it is published, it will become Version 1.
If the Template requires editing in the future, you will need to create a new version and a sequential number will be assigned by the LMS for each new version of the Template going forward.
To create a new version, navigate to the Template you would like to amend (see View existing Form Templates if you're unsure how to do this).
Click on the Template's name.
Click on the New Version button at the top right of the Editor.
Click on Confirm in the popup window.
A new version will be created and you will be able to start editing the Form Template.
If you have a Form Activity created from the original version of the template, with registered Users in progress, they will continue to see the original version even when you have published your new version. Once you publish the new version, the Form Activity will automatically update to this version, however only registered Users that have not started the activity, or any newly registered Users will see the new version of the Form Template.