Yes, yes. The left arm is pretty short for this. but it is a bit out of frame. The right arm's elbow would reach her midriff (that's great) and the forearm + hand then the thighs.
The rest of proportions is fine, though. Since anime heads are a bit bigger as regular head, this torso here can ca. fit three heads and a half. That's ok.
So the proportions are ok, except for maybe left arm which is for some part out of frame.
And the ribs are also ok. They extend to a bit above the midriff and there are three or four ribs under the breasts. Since she has medium breasts, that is ok, I think.