Originally posted by Blackamp
i don't think so. i know a couple of guys who have played in Olympiads, and they're not FMs
I may be wrong. Just googled it and never found anything to back me up.
But then again, your acquaintances may have opted not to pay FiDE the fee they charge for the said honour. Given that most tournaments don’t give any benefits to FM’s, it is quite common I think.