The simulated devices output a sine wave with a frequency proportional to the sample rate specified. I believe the amplitude is also set to the range of the input voltage specified in the task.
If you want to input an arbitrary signal and make sure it is receive correctly through DaqMx then you could always use the Analog Out function of your hardware to generate a signal, then hook that output to the input you wish to test.
This has the added benefit of getting to test the DaqMx interface rather than just testing the data processing in your application.