Yes it does generate a email if you are on a current version like at least 7.x. And you have elected to receive the notification in your Preferences.
For new(test) users. I believe you need to register a account without using the same email address as a admin.
But anyway you need to login as a admin then goto mystuff-Edit Preferences .
At the bottom of the screen you will see the options to be notified of. They are not turned on by default.
FYI, Moderators will have a similar list but not all options that a admin has such as new registrations..
