Yes, basically it is exactly that. (For why it is called like that, see other answers; but that's also somewhat irrelevant.)
But the main task is to identify how to iteratively / recursively solve the problem and what to cache (and then you should also be able to tell how efficient your solution is). This is the tricky bit. It doesn't matter if you call it DP or whatever. But it matters to be able to come up with efficient solutions for such problems. And this is what companies want to see.
But the main task is to identify how to iteratively / recursively solve the problem and what to cache (and then you should also be able to tell how efficient your solution is). This is the tricky bit. It doesn't matter if you call it DP or whatever. But it matters to be able to come up with efficient solutions for such problems. And this is what companies want to see.