Probability questions with the word "exactly" are tough. I think the easiest way to do these is just to list out the different possibilities:
HHH
HHT
HTH
HTT
TTT
TTH
THT
THH
Now we just need to find the ones that have exactly two "H"s in them, or 3/8 = .375.
Alternatively, you can draw a probability diagram (see attached file). This illustrates all of the possibilities that you might have. Then, just follow the branches of the diagram to find the ones that have exactly two "H"s.
The drawing is pretty crude, but it gets the point across!
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Jim S. | GMAT Instructor | Veritas Prep