That is correct.
If you want the specifics of ArrayList:
ArrayList is one of many dynamically sized Datastructure Objects that extend the List Object (
List (Java Platform SE 6)). The main difference between List Objects and an Array is that an Array is just a standard allocation of memory while a List (an ArrayList in this case) is an Object. That is also the reason that lists are interacted with using methods instead of just references (or whatever they are called).
Here is a quick reference for List methods vs. Array references:
List.size() instead of Array.length
List.get(0) instead of Array[0]
List.set(0,"Word") instead of Array[0] = "Word"
And some of the more advanced features, such as removing an Object is a simple method call in a List instead of a complete Array reallocation.
If you wanted to add to the end of an Array, you would have to copy, reallocate, ect. With a List, you simply say List.add("Word")
If you wanted to remove in the middle of an Array, you would have to shift elements down and resize. With a List, you simply say List.remove(4)
And, if absolutely necessary, you can convert a List to an Array with the List.toArray() method.
Since ArrayList extends List, ArrayList has a ton more features than the List class and you should have a look at the ArrayList API to see if it can do what you want:
ArrayList (Java Platform SE 6)