Quote is a bid and offer broadcast from the exchange or through the NASDAQ system that displays the prices at which a security may be purchased and sold and in what quantities.
Applying "Quote" to Securities Exams:
A market market may enter a quote over the NASDAQ work station or provide a priced quote over the phone. Quotes from the exchanges are made of all bids and offers presented in the market. The highest bid and lowest offer make up the inside market or the level 1 quote.