Yes it is. You can use your iCloud account to unlock your encrypted disk. See File Vault instructions on either Apple's website or while setting it up under Yosemite.

On 6/3/2015 12:11 PM, Sabahattin Gucukoglu wrote:
You need either a recovery key or a passphrase. You can’t reset your passphrase 
using iCloud with the intention of then using that passphrase to unlock your 
FileVault protected disk. It’s not an online process.


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