Yesh,

First CUT
Then BOOST

But RB Help file for Parmetric EQ is very helpfull saying nothing to newcomer. Even a simple
example could make some sense how to Cut and Boost in ranges.

[Help file]
Frequency-- The center frequency of each EQ section.

Bandwidth-- The relative width of each section. One hundred percent bandwidth is approximately one octave wide. Ten percent bandwidth is about one tenth of an octave wide, and 200% bandwidth is about two octaves wide.

Gain-- The boost or cut of each band. If Gain of a band is set to zero, that filter is not calculated. So if you only need two bands of correction, leave the other bands at zero and the equalizer will ignore the unused bands, finishing faster.