Yes on both accounts. If the engine is equipped with an automatic tensioner pulley, the pulley in question would usually jump when it ticks and increases frequency with the engine rpm. An engine stehoscope should be able to isolate the source in this case but not on the engine exhaust leak. The best way i know how to isolate exhaust leak is to visually look at the exhaust flange to the cylinder head and the exhaust flange to the exhaust pipe for a black soot accumulation that indicates leak. Also, you can use a small fuel line thats long enough to reach areas you cant see. Place one end to your ear and the other end towards the suspected areas. Just for verification, if one of the pulleys is in question, you can remove the serpentine belts and run the engine at idle to see if the ticking goes away, if not, the noise is somewhere else.