Yes. On our forum here (and the default for new installations) there are in fact 5:
0 => New User
5 => Novice
50 => User
500 => Enthusiast
1000 => Veteran
You can define as many different levels as you want in the user_post_title section of the Setup -> Users admin page.
Jason Rhinelander
Gossamer Threads jason@gossamer-threads.com