I'd say that is correct. For example when making a pot of chili, you "brown" the meat in a skillet, then put in the pot with the rest of the ingredients and let it finish cooking with them. The reason for this is that vegetables cook faster than meat, so you want it all to be cooked without over cooking the veggies in order to get the meat done............give the meat a head start by browning it first.
This is a term that is often widely misused - to brown meat means to cook it thoroughly, and it is meant to be used for ground/mince meats.
If a recipe states that you need to "brown" a steak or a roast, it means only the outside is cooked, but the proper term would be "sear".
Unless I'm mistaken, it simply means to cook the meat to where the exterior changes color, not necessarily cooked all the way through. Usually in a recipe if it calls for browning the meat, you need to do something else before the meat is cooked all the way through.
Oops I stand corrected because I just noticed Miss Colleen's answer and she most definatley knows the proper terminology. However, as she stated, the "misused' term is what I said.
For steak its just cooking the outside so the inside is still well basically raw which is the way I like it