No. Apple Hardware Test normally comes with the original install discs supplied wth the computer when brand new. Go to this link and download the iMac Apple Hardware Test, number three on the list, drag the .dmg file to the left hand column of Disk Utility, pop in a new CD and hit the 'Burn' button.
Apple Hardware Test Images
You will be able to boot from the CD by holding down 'C' immediatelly after the chimes when you restart the machine.
The Apple Leopard DVD does have Disk Utility installed, however. Boot from the disk, again holding down 'C', go to Utilities in the Menu Bar, select Disk Utility and run Repair Disk. You can then format Mac OS Extended Journalled, partition the drive even if using one partition, and proceed with the Leopard install.