Quick Bullets

Also known as simple bullets, simple lists.
To avoid any confusion with Multi Level Bullets these are called Single Level Bullets
When you just want to quickly add some bullets to your document
SS
Bullets - Toggles bullet points from selected paragraphs.

For this type you can use the Bullets and Numbering buttons on the Formatting toolbar.
You can only use single level buttons with footnotes.

Single Paragraphs

Bullet points can be toggled on single paragraphs.

Multiple Paragraphs

Bullet points can also be toggled on multiple paragraphs except when the first line doesn't contain any text
SS

Managing Quick Bullets

Quick bullets are represented by the Bulleted tab on the (Format > Bullets and Numbering) dialog box.

Quick Bullet Style

This appears as Bulleted in the Styles and Formatting task pane in Word 2003
This can be misleading though as there is no style called "Bulleted".
This has been resolved in 2007 and does not appear as a style.

Understanding List Templates

Knowing how a quick bullet is defined will help to explain some of the odd things you might see or experience when working with the (Format > Bullets and Numbering) dialog box.
The first thing to understand is that Word stores quick bullet formats as List Templates.
For more details, please refer to the (Bullets & Numbering Advanced > List Templates)

Important

List Templates can be either single level or multi level