No, not correct. The part of the trunk where the bark enters the soil when the plant was in the pot or ball should be flush with the soil More on that HERE. Also, check to make sure that bark mulch hasn’t been piled up, mound like, around the trunk of the tree. Wet mulch against the bark of the tree has the same deadly effect as burying the plant too deep. Brush any mulch or dirt away from the trunk until you fine the spot where the trunk enters the soil.