Yes - just leave the 'Searchable' checkbox unchecked on the Custom Field form. You will be able to retrieve your delegates' choices via the Attendees report.
This feature is useful if you are using Meeting Mojo's Registration form in conjunction with the 1:1 system: you can collect relevant information about your delegates that will not be displayed on their profiles - for example, dietary requirements, or an opt in to your mailing list.
Learn more about Custom Fields by visiting this article.