It is possible to back up Quicken to a CDRW. If you only want a one time back up, then you could use a CDR disk, but if you want to continually back up your data it would be necessary to use a CDRW disk. All you should have to do is install a CDRW disk in your drive and specify that drive letter as your backup disk, Quiken should then back up your data to the disk and overwrite older backups as the disk becomes full. You can specify how many backup copies you wish to keep in the options menu. I personally do my backups to a second hardrive that does not contain the operating system.
Hope this helps,
Alan, Canada