Carefree? Not exactly, and note reflected that (7)
I believe the answer is:
halcyon
'carefree?' is the definition.
(I've seen this before)
'not exactly and note reflected that' is the wordplay.
'not exactly' becomes 'c' (short for 'circa').
'and' is a charade indicator (letters next to each other).
'note' becomes 'lah' (I've seen this before).
'reflected' shows that the letters should be reversed in order (letters reflected back).
'that' becomes 'yon' (archaic term meaning 'that').
'lah' back-to-front is 'hal'.
'c' after 'hal' is 'halc'.
'halc'+'yon'='HALCYON'
(Other definitions for halcyon that I've seen before include "Bird" , "Idyllically happy and peaceful" , "Happy, especially in the past" , "undisturbed" , "Such days are calm and happy" .)