Final answer:
The quoted sentence 'Ice is my life,' does not require a question mark as it is not a question. Question marks should be placed inside quotation marks only if the quoted material is a question.
Step-by-step explanation:
When punctuating sentences with quotations, it is important to know where to place question marks. If the question mark is part of the quoted material, it should be placed inside the quotation marks. However, if the question mark applies to the sentence as a whole and not just the quoted portion, it should be placed outside.
For the given sentence regarding a quote from the movie Frozen, the correct punctuation using a single question mark would be: "My favorite quote from the movie Frozen is 'Ice is my life,' Megha said." Since the quoted material is not a question, the question mark is not needed. If Megha's statement itself is part of a larger question, for example, Did Megha say her favorite quote from the movie Frozen is 'Ice is my life'?, the question mark would be placed at the end of the sentence, outside the quotation marks.