Yes, it's possible and also very easy. Usually you save simple application settings using SharedPreferences. They can be read from anywhere in the app.
For writing.
SharedPreferences sp = PreferenceManager.getDefaultSharedPreferences(context);
Editor editor = sp.edit();
editor.putBoolean("someBoolean", true);
editor.putString("someString", "string");
editor.commit();
For reading
SharedPreferences sp = PreferenceManager.getDefaultSharedPreferences(context);
boolean someBoolean = sp.getBoolean("someBoolean", false);
boolean someString = sp.getString("someString", null);