Your Quicktime file could be composed of any of dozens of codecs, hp, so, without knowing where the MOV came from, it's impossible to predict how it will perform in Premiere Elements. (Particularly since we also don't know if you're on a Mac or a PC.)
I'd recommend you download a copy of Quicktime Pro from Apple.com. It only costs $29, and it not only works with virtually any Quicktime file, but it also includes tools for converting the file to a more traditional format, in the event you feel the need to edit it in Premiere Elements.
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Along with Steve's comments, PrE will allow one to extract a still image. I cannot recall if JPEG is a direct option, but if not, one could always Export/Share that Frame as a TIFF, or BMP, and then convert that to JPEG with any number of programs from Photoshop to freeware, like GIMP. The platform that you are on could make a difference as to what image processing programs are available.
For a little more background on what can be inside the MOV "wrapper," this ARTICLE might be of use.
Thanks very much to both of oyu for your answers....I appreciate your taking the time to do so
You are most welcome. That is one aspect of our lives, that most of us enjoy - helping other to use Adobe software, efficiently, and with a real high "fun quotient."