Is it okay for professors to completely copy another professors' notes, assignments, and exam questions word for word from another university? I have a professor who used the same lecture notes, same assignments, and same exam questions word for word from from another professor at a different university (who posts his notes, assignments, and exams online). She mentions she "makes her own exams", however the questions are identical to the online past exam and assignment questions. 

It's a masters level class and the exam questions are quite specific. We are given an abstract to read and then asked to perform calculations/analyze the abstract. 

Is this common or "allowed"?
If 1st professor published his/her notes and question with a license which allows that, it's almost ok.  If 1st professor published questions without anything which looks like a license, the 2nd professor should ask permission. 

The main pros of using notes and questions made by somebody  - optimization of work. Why should anybody invent a bicycle if we can get already invented bicycle and use it?