Does a master sgt out rank a chief warrant officer?

No, a Chief Warrant Officer is considered a commissioned officer of their respective branch (IE: Army, Navy, Marine Corps; Air Force does not have Warrant Officers). You could consider Warrant Officers (WO1 - CWO5) the ranks between E-9 and O-1. So, an O-1 outranks a CWO5, a WO1 outranks an E-9. A Master Sergeant is an E-8 in the Army and the Marine Corps, and an E-7 in the Air Force. Obviously an E-9 outranks both E-7 and E-8.