That is what it is for. Most common name for it is an amp clamp. I dont know what that comment about being Hybrid approved is supposed to mean, but the clamp is only used for current. I have several Flukes of various types. I recommend a separate amp clamp that plug into your regular DMM as opposed to one that has the clamp integral with the unit.
Learning to use the meter is the most important thing. Showing off your meters when all you know how to do is check the voltage on a group 34 battery means exactly dick.
Good luck, read lots, including the manuals that are available from Fluke and you will be amazed at what you can do with one.