Yes. It will backup all partitions necessary to boot as well as the OS partition. That would be the entire C partition of the drive in most cases. So if you've saved those things on your C drive, then again, yes.
The ONLY true way to know if a backup image will work when restored is to do a test restore to a spare drive and see if it boots and all your programs and files are intact and functioning. Please don't interpret this to mean you have to test EVERY image, one would be sufficient. Then by keeping at least 2 backup sets that say the image is valid, you should be covered. A backup program must not only create a backup but must be able to restore it. You can make a hundred backups but if you don't do a test restore you'll never know if it will work for you.
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Thanks !