Yes, ranks is a Scrabble word!
...and is worth 9 points in Scrabble, and 10 points in Words with Friends
ranks
Verb
1. Take or have a position relative to others
2. Assign a rank or rating to
3. Take precedence or surpass others in rank
Noun
1. A row or line of people (especially soldiers or police) standing abreast of one another
2. Relative status
3. The ordinary members of an organization (such as the enlisted soldiers of an army)
4. Position in a social hierarchy
5. The body of members of an organization or group
What Scrabble words can I make with the letters in ranks?
5 Letter Words
4 Letter Words
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3 Letter Words
2 Letter Words