[strike]It appears so, yes[/strike] http://h10032.www1.hp.com/ctg/Manual/c04642845:
5th generation Intel® Core™ i7 Processor
Intel Core i7-5500U (2.4GHz, SC turbo up to 3.0GHz), 1600MHz/4MB L3, Dual 15W (models with discrete graphics
only)
5th generation Intel Core i5 Processor
Intel Core i5-5200U (2.2GHz, SC turbo up to 2.7GHz), 1600MHz/3MB L3, Dual 15W
5th generation Intel Core i3 Processor
Intel Core i3-5010U (2.0GHz), 1600MHz/3MB L3, Dual 15W
Pretty limited choices since you are stuck with 15W processors.
On further review, these are BGA soldered CPUs on variant motherboards. Since it is a relatively recent laptop not much user based information out there.
Alternate system boards do exist, but given the age of the product, finding one would probably not be that easy.