Yes, that is correct. There are 7 exams for the MCPD certification.
2 Base exams:
Then 2 exams for the Windows Developer 4 certification:
- Designing and Developing Windows Applications (70-518)
- Windows Applications Development (70-511)
or you can take these 2 exams for the Web Developer 4 certification:
- Designing and Developing Web Applications (70-519)
- Web Applications Development (70-515)
or you can take this 1 exam for the Windows Azure Developer certification:
- Designing and Developing Windows Azure Applications (70-583)
Once you take all of the exams, ie. have all 3 of the aforementioned certifications, you are a Microsoft Certified Professional Developer (MCPD).