Etymology
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exactly (adv.)

"in an exact manner, with minute correctness," 1530s, from exact (adj.) + -ly (2). Elliptical use for "quite right" not recorded before 1869.

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Definitions of exactly

exactly (adv.)
indicating exactness or preciseness; "Properly speaking, all true work is religion."--Thomas Carlyle;
he was doing precisely (or exactly) what she had told him to do
Synonyms: precisely / just / properly
exactly (adv.)
just as it should be;
Synonyms: precisely / on the nose / on the dot / on the button
exactly (adv.)
in a precise manner;
Synonyms: precisely / incisively
From wordnet.princeton.edu