Adjust the label text size of radiobutton or checkbox

txtQuestion.Text = "Question text";
int answerBreak = panel1.Height / NUMBEROFANSWERS;
int runningHeightTotal = 0;

panel1.Controls.Clear();

for (int i = 0; i < NUMBEROFANSWERS; i++)
{

  Font stringFont = new System.Drawing.Font(
    SystemFonts.DefaultFont.ToString(), 12, System.Drawing.FontStyle.Regular);

  //Gotcha 1: MeasureText does not produce accurate results
  Size textSize = TextRenderer.MeasureText(
    testQuestions[currentlyTestedQuestionID].Answers[i].AnswerText, stringFont);


  RadioButton rb = new RadioButton();
  rb.Tag = testQuestions[currentlyTestedQuestionID].Answers[i].AnswerID;

  //shift down if the previous answer took too much room
  rb.Location = new System.Drawing.Point(5, 
    (i * answerBreak >= runningHeightTotal ? i * answerBreak : runningHeightTotal + 5));
  rb.Text = testQuestions[currentlyTestedQuestionID].Answers[i].AnswerText;
  rb.Size = new System.Drawing.Size(textSize.Width, textSize.Height);
  rb.Font = stringFont;

  using (Graphics g = rb.CreateGraphics())
  {
    bool height = false;
    int linesNumber = 1;
    //so the text size is measured using the Graphics object
    Size s = g.MeasureString(rb.Text, rb.Font).ToSize();
    if (rb.Size.Height <= s.Height)
      height = true;

    if (s.Width > PANEL1WIDTH)
    {
      linesNumber = s.Width / 750;
      if (s.Width % PANEL1WIDTH > 0)
        linesNumber += 1;
    }

    rb.Size = new Size(PANEL1WIDTH, 
      height ? (s.Height + 5) * linesNumber : rb.Size.Height * linesNumber);
  }

  runningHeightTotal += rb.Height;

  panel1.Controls.Add(rb);
}

If checkbox's size needs to be adjusted, declare rb as a CheckBox, and everything will work just as well.