You can graduate with one of the three honors, but each college and university has different requirements for this.
This can be based on your GPA as well as your academic area of concentration, whether you completed an independent study or not, among other factors.
Below are what each of them mean from their Latin translation.
The one thing that they all have in common is that they are associated to a high GPA.
Class GPA: Your class GPA is the percentage one. At the end of the semester the only grade you see is the letter grade that the professor plugs into the system after final grades.
Semester GPA: The semester GPA is the one calculated above, only with the classes that were completed during that semester.
Cumulative GPA: This GPA is your overall GPA of all your classes and all your semesters. This is the final grade that you have on your major. Depending on your GPA at the time of graduation can determine if you will graduate with certain honors.