Yep
GMs and NMs and IMs and stuff
Here are the names of each title and the rating requirements:
GM- Grandmaster- 2500
IM- International master- 2400
FM- FIDE master- 2300
CM- Candidate master- 2200
NM- National master- varies
You also need to complete 3 norms to get either IM or GM (I'm too lazy to explain what those are, google it if you're interested
).
The requirements for NM vary by country, but it's generally comparable to the difficulty of obtaining CM.
GM - Grandmaster
IM - International Master
NM - National Master
CM - FIDE Candidate Master
FM - FIDE Master
I'm sure most of these have been used before:
GM = Goofy Master
IM = Idiot Master
FM = Foolish Master
CM = Crummy Master
NM = Nutty Master.
FM is sometimes also used as Fun Master! 



I know that GM stands for Grand Master
But what about the others?
NM = National Master?
IM = International Master?