It can also be used to refer to:
* Practice (as in practicing a skill)
* Problem (in a mathematical or academic context)
* Exercise (as in a physical activity)
The specific meaning will depend on the context.
For example:
* "Hago ejercicio todos los días." (I exercise every day.)
* "El profesor nos dio un ejercicio para practicar." (The teacher gave us an exercise to practice.)
* "Resuelve el siguiente ejercicio." (Solve the following problem.)