There is a thread here somewhere which explains most (all?) of the quilting related acronyms.
A few that you will run into quite often:
LQS - local quilt shop
FQ - Fat Quarter
FMQ - Free Motion Quilting
LA - Long Arm, or Long Armer (one who uses a long arm)
WOF - Width of Fabric - you'll also see this acronym on a lot of patterns used in conjunction with cutting directions and yardage requirements
Welcome to the board!! you'll get the lingo soon enough