The answer is clearly both Yes and No. From BOL (2005)
All mathematical functions, except for RAND, are deterministic functions. This means they return the same results each time they are called with a specific set of input values. RAND is deterministic only when a seed parameter is specified. For more information about function determinism
So clearly the answer is YES IF you provide a seed value.
However another BOL (2005) reference states
The following built-in functions from other categories are always nondeterministic
and then includes RAND in the list.