I am new to poker and I don't know the different termonology. What do these things mean?
Well you have come to the right place. You can view an online poker dictionary here. If you don't have pdf reader you can view it here.

How long will it take to receive my bonus money?
You should receive your bonus money from PartyPoker right after you make your first deposit. If there is a current promotion with PartyMeUp please allow 3-4 weeks for the money to be put into your PayPal account.