A template is a set of configuration options that can be applied to one or more firewalls or virtual systems managed by Panorama. A template can include settings from the Device and Network tabs on the firewall web interface, such as login banner, SSL decryption exclusion, and dynamic updates4. These settings can be configured in a template named “Global” and included in all template stacks. A template stack is a group of templates that Panorama pushes to managed firewalls in an ordered hierarchy4. References: Manage Templates and Template Stacks, PCNSE Study Guide (page 50)