Yes it is you need to ensure that the Microsoft Exchange POP3 service is set to automatic and started.
Then make sure the Default POP3 Virtual Server is started then make sure Port 110 is forwarded to your exchange server from your router/firewall.
When you setup the SMTP connection make sure you set authentication in the form of DOMAIN\username and also make sure that the exchange alias is the same as what appears under the account tab in Active Directory Users and Computers.
