if the picture with the text you want to copy has only one layer, you can’t. you’ll need to retype the text in the second. if the text you need is on it’s own text layer, you can just drag and drop the layer from the first image to the second.
you can remove it, you cut it out, but as i dont know what they actauly want to do its hard to advise. It might not be a font, it might be clip art text, or text with a affect that has been flatend.
Can you show us a image?