While you might read up on contractor's glossary of terms just to know them, it's not really that important to prepare for the inspection. If your inspector is a seasoned and licensed professional, and I hope he will be, he will look at all of the important structural, electrical, plumbing, termites, roofing and foundation (if possible) parts of the house.
In the end of the inspection, he will go over all the findings in detail and will give you an itemized report. You will have a chance to ask any questions and he'll explain everything in simple terms.
No need to stress over it. Generally, there will be some minor things (there are always are) that will need to be fixed. What you should pay attention to is the structure soundness and the appliances, AC, septic tank, well, hurricane preparedness (if applicable), water heater condition. Large ticket items might cost you, and sometimes having the seller repairing them is better than a price reductions (especially when you are buying for the first time).
Hope all will go well for you!
Irina Karan, CDPE
Beachfront Realty, Inc.