You want to list actual awards here, not ranks. Ideally they want to see professional awards. For example, many companies give awards to employees for particular achievements, etc. The award might be financial or it might just be something you can put on your resume as a way in which you were recognized for your impact. In the details section you want to list how many awards were given & out of how many people considered & any details of the award (for example, if it has a monetary component) as well as why you won the award.
If had a certain rank in a contest or competition, I'd save that for the extracurricular section.
Hope that helps!