Without having the materials to test, something like the following may work, Chr(183) is the bullet character. Note that if you are using late binding to Word you need to use the numeric equivalents of the 'wd' commands (see below).
Code:
If Ans <> vbNullString Then
ReplaceAns = Replace(Ans, Chr(32) & Chr(183), vbCr & Chr(183))
For Each rngStory In oWordDoc.StoryRanges
With rngStory.Find
.Text = FoundWord
.Replacement.Text = ReplaceAns
.Wrap = 1
.Execute Replace:=2
End With
Next
End If