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Below is a list of terms us SEO specialists use. Read them carefully as some use them as words to lure you in thinking the wrong things. 
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Anchor Text
Anchor text refers to the visible text for a hyperlink. For example:
< a href="http://www.searchbliss.com/" >This is the anchor text< /a >
Back Link
Any link on another page that points to the subject page. Also called inbound links or IBLs.
Bot
Abbreviation for robot (also called a spider). It refers to software programs that scan the web. Bots vary in purpose from indexing web pages for search engines to harvesting e-mail addresses for spammers.
Cloaking
Cloaking describes the technique of serving a different page to a search engine spider than what a human visitor sees. This technique is abused by spammers for keyword stuffing. Cloaking is a violation of the Terms Of Service of most search engines and could be grounds for banning.
Conversion
Conversion refers to site traffic that follows through on the goal of the site (such as buying a product on-line, filling out a contact form, registering for a newsletter, etc.). Webmasters measure conversion to judge the effectiveness (and ROI) of PPC and other advertising campaigns. Effective conversion tracking requires the use of some scripting/cookies to track visitors actions within a website. Log file analysis is not sufficient for this purpose.
CPC
Abbreviation for Cost Per Click. It is the base unit of cost for a PPC campaign.
CTA
Abbreviation for Content Targeted (Advertising). It refers to the placement of relevant PPC ads on content pages for non-search engine websites.
CTR
Abbreviation for Click Through Rate. It is a ratio of clicks per impressions in a PPC campaign.
Doorway Page
Also called a gateway page. A doorway page exists solely for the purpose of driving traffic to another page. They are usually designed and optimized to target one specific key phrase. Doorway pages rarely are written for human visitors. They are written for search engines to achieve high rankings and hopefully drive traffic to the main site. Using doorway pages is a violation of the Terms Of Service of most search engines and could be grounds for banning.
FFA
Abbreviation for Free For All. FFA sites post large lists of unrelated links to anyone and everyone. FFA sites and the links they provide are basically useless. Humans do not use them and search engines minimize their importance in ranking formulas.
Gateway Page
Also called a doorway page. A gateway page exists solely for the purpose of driving traffic to another page. They are usually designed and optimized to target one specific key phrase. Gateway pages rarely are written for human visitors. They are written for search engines to achieve high rankings and hopefully drive traffic to the main site. Using gateway pages is a violation of the Terms Of Service of most search engines and could be grounds for banning.
IBL
Abbreviation for In Bound Link. Any link on another page that points to the subject page. Also called a back link.
Keyword/Keyphrase Keywords are words which are used in search engine queries. Key phrases are multi-word phrases used in search engine queries. SEO is the process of optimizing web pages for keywords and key phrases so that they rank highly in the results returned for search queries.
Keyword Stuffing
Keyword stuffing refers to the practice of adding superfluous keywords to a web page. The words are added for the 'benefit' of search engines and not human visitors. The words may or may not be visible to human visitors. While not necessarily a violation of search engine Terms of Service, at least when the words are visible to humans, it detracts from the impact of a page (it looks like spam). It is also possible that search engines may discount the importance of large blocks of text that do not conform to grammatical structures (IE. lists of disconnected keywords). There is no valid reason for engaging in this practice.
Link Farm
A link farm is a group of separate, highly interlinked websites for the purposes of inflating link popularity (or PR). Engaging in a link farm is a violation of the Terms Of Service of most search engines and could be grounds for banning.
Mirror
In SEO parlance, a mirror is a near identical duplicate website (or page). Mirrors are commonly used in an effort to target different keywords/key phrases. Using mirrors is a violation of the Terms Of Service of most search engines and could be grounds for banning.
PFI
Abbreviation for Pay For Inclusion. Many search engines offer a PFI program to assure frequent spidering / indexing of a site (or page). PFI does not guarantee that a site will be ranked highly (or at all) for a given search term. It just offers webmasters the opportunity to quickly incorporate changes to a site into a search engine's index. This can be useful for experimenting with tweaking a site and judging the resultant effects on the rankings.
Portal
Designation for websites that are either authoritative hubs for a given subject or popular content driven sites (like Yahoo) that people use as their homepage. Most portals offer significant content and offer advertising opportunities for relevant sites.
PPC
Abbreviation for Pay Per Click. An advertising model where advertisers pay only for the traffic generated by their ads.
PR
Abbreviation for PageRank - Google's trademark for their proprietary measure of link popularity for web pages. Google offers a PR viewer on their Tool bar.
Robots.txt
Robots.txt is a file which well behaved spiders read to determine which parts of a website they may visit.
SEM
Abbreviation for Search Engine Marketing. SEM encompasses SEO and search engine paid advertising options (banners, PPC, etc.)
SEO
Abbreviation for Search Engine Optimization. SEO covers the process of
making web pages spider friendly (so search engines can read them)
making web pages relevant to desired key phrases
SERP
Abbreviation for Search Engine Results Page/Positioning. This refers to the organic (excluding paid listings) search results for a given query.
Spam
In the SEO vernacular, this refers to manipulation techniques that violate search engines Terms of Service and are designed to achieve higher rankings for a web page. Obviously, spam could be grounds for banning.
Spamdexing
Spamdexing was describes the efforts to spam a search engine's index. Spamdexing is a violation of the Terms Of Service of most search engines and could be grounds for banning.
Spider
Also called a bot (or robot). Spiders are software programs that scan the web. They vary in purpose from indexing web pages for search engines to harvesting e-mail addresses for spammers.
Spider Trap
A spider trap refers to either a continuous loop where spiders are requesting pages and the server is requesting data to render the page or an intentional scheme designed to identify (and "ban") spiders that do not respect robots.txt.
Stop Word
Stop words are words that are ignored by search engines when indexing web pages and processing search queries. Common words such as "the".
Black hat
This is Unethical SEO. Search Engine Optimization techniques that defy search engine TOS.
White hat
an ethical SEO method that follows search engine TOS.
Grey hat
an SEO using both methods.
Link building
a method of creating backlinks to your own website.
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