Every job has "lingo". So it is with writing. So here are a few words that you might need to learn. Sure, it's Writing 101, but trust me, it hasn't been so long ago that I had to ask! These descriptions came from Writer's Market!
Clip-a sample, usually from a newspaper or magazine, of a writer's published work. (It's good to have these when you submit a query)
Literary Fiction-The general category of fiction which employs more sophisticated technique, driven as much or more by character evolution than action in the plot.
Commercial fiction-To the writer of literary, or serious, fiction, style and technique are often as important as subject matter. Commercial fiction however, is written with the intent of reaching as wide an audience as possible and is sometimes called "genre" fiction.
Genre-A formulaic type of fiction such as romance, western or horror.
Proposal- An offer to write a specific work, usually consisting of an outline of the work and one or two completed chapters.
Query- A letter written to an editor to elecit interest in a story the writer wants to submit.
SASE- self addressed stamped envelope
Slush pile-A stack of unsolicited manuscripts in the editorial offices of a publisher.
Synoposis-A brief summary of a story, novel or a play. As part of a book proposal, it is a comprehensive summary condensed in a page or page and a half.
Unsolicited manuscript-A story or novel manuscript that an editor did not specifically asked to see.
These are simple terms, but you need to get familiar with them before you make a mistake with an editor!