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Yes. It's an indication that your UTF-8 has gotten loaded/interpreted as probably Latin-1, or maybe Windows-1252 (I forget which Mobipocket Creator is supposed to use as its default).
If you use KindleGen, the -unicode option should take care of that when reconverting, although you may have to stick in a <meta http-equiv="Content-Type" content="text/html; charset=UTF-8" /> if it proves stubborn.
Or you can just go and change all the quotes to the appropriate HTML entity, although that's a bit less human-readable and inconvenient when editing, I find.
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