If "exact" means a millimeter or so, then yes. Not along the length of the slot, which is for adjustability, but in the width of the slot, and the dropout width.
One trick that ensures that the wheel will always install square is to have the bike upright on level ground when you align between the chainstays and tighten. This lets gravity ensure that the tops of the dropouts are resting on the axle, and the wheel isn't twisted, -- on the bottom of the slot on one side and the top on the other.
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