Final answer:
A spot rate quotation in foreign exchange indeed refers to a transaction that is typically settled within two business days, making the statement true.
Step-by-step explanation:
The statement that a spot rate quotation in foreign exchange is a rate for a transaction that will be settled within two days of entering into the transaction is True. Spot exchange rates represent the exchange rate for immediate delivery of currencies, meaning settlement usually happens within two business days after the transaction date. This contrasts with forward rates, which are agreed upon for a transaction that will settle at a later date.