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No. The 3 character extension is a limitation of MS-DOS. Versions of Windows from Windows 95 and later support an arbitrary number of characters for a file extension, as long as the total filename length is 255 or less characters.
A compiled Help File in Windows will have the extension .chp
*.msi is the extension for the Microsoft installer package.
A console is saved in a file with an .msc extension.
Windows applications in general (not just for Windows 3.1) automatically append the file extension.
File Extension
file extension
The file name extension of clip art in Windows Clip Organizer is .jpg (JPEG).
Unix audio file.
.doc
.MSWMM
.doc