Yes. Go to Settings, scroll down to near the bottom and tap Backup and Restore, then tap Backup CC settings and database. A dialog will open where you choose where to save the backup. By default CC's settings, folder locations, and database will be saved in the backup file.
Unless you uncheck the "Save CC book database" checkbox the backup contains the database that CC uses to store the calibre metadata for the books on the device. It does not contain the book files themselves. If you want to back up the book files then you must use a tool like a file manager to copy the book files to some safe location.
Note that CC will not allow you to save a backup on an SD card. Because of the Android 4.4 (Kitkat) and later changes there are too many complexities. If you can write to your SD card, save the backup in main memory then use a file manager to move it to the SD card.