Yes, Avid Cinema software ships with a small library of sound effects for use in your movies. They are located in the Sound Effects folder inside the Examples folder, which resides in the Avid Cinema folder.
The sound effects available are:
Applause
Bolt of Lightening
Cheering
City Traffic
Comedy Sounds
Crash
Doorbell
Fireworks
Football Game
Glass
Jet
Laughter
Ocean
Siren
Skid
Telephone
Thunder
Train
Whip Crack
Wind