Is using movie posters or album covers in a student ranking fair use?

Movie Posters and Album covers have Tradmarks displayed on them and Copyrighted works of expression.  As a result, it would be infringment to copy them, unless there is a fair use.  Fair use is reserved for analysis, comment, or some type of transformative work.  It doesn't appear that you are using them for an educational or analytical purpose.  It also doesn't appear that you are making a comment, or anything that would be protected by the First Amendment.  Simple copying is not transformative - so no - it does not appear to be fair use without more information.

Any use of someone else's creative work without permission can be copyright infringement. You would need to know if the works you want to use are protected by copyright. For example, if the work was created before 1922, it is no longer protected under copyright. If it was created after that, there are complex laws that would determine if the work was still under copyright protection. Assuming that the works are under copyright protection, you can only use them if your use is a "fair use." Whether a use is a "fair use" depends on a number of facts, including (1) the purpose and character of the use, including whether such use is of commercial nature or is for nonprofit educational purposes; (2) the nature of the copyrighted work; (3) the amount and substantiality of the portion used in relation to the copyrighted work as a whole; and (4) the effect of the use upon the potential market for, or value of, the copyrighted work. Deciding if your use is a "fair use" would require under these and possibly other facts, which is why you should consult someone who is knowledgeable in this area of the law.