Plain English Meaning
These are ground-based training devices that look and behave like a real aircraft cockpit, ranked from Level 4 (basic) up to Level 7 (most realistic). The higher the level, the more closely the device matches a specific aircraft, and the more training credit you can log in it instead of in the actual airplane.
Full Definition
A category of ground-based flight training devices certified by the FAA at Levels 4 through 7, representing increasing fidelity in replicating a specific aircraft or class of aircraft. Higher-level FTDs include more accurate cockpit layouts, system functionality, flight dynamics, and (at Level 6 and above) aircraft-specific aerodynamic and control-loading models. They are approved under for credit toward , checking, and requirements, with the amount of credit increasing as the level increases.