A: No. The file AcrobatUpd1016.msp is for Acrobat Pro/Standard only. Adobe Reader X has a separate update (10.1.16 for Reader), available on the same FTP site but named ReaderUpd1016.msp .
Since official web-based direct download links for legacy software are largely discontinued, you can access the update through the following methods: Official FTP Server (Recommended) Adobe Acrobat X Pro Update 10.1.16 Download