Some Basics
A vulnerability is a weakness which can be exploited by an attacker.
An exploit is a piece of code written to take advantage of a particular vulnerability.
A payload is a piece of code to be executed through said exploit.
The Common Vulnerabilities and Exposures (CVE) system provides a reference-method for publicly known information-security vulnerabilities and exposures.
Nessus is a proprietary vulnerability scanner developed by Tenable, Inc.
Layer 7 refers to the top layer in the 7-layer OSI model of the Internet, also known as the "application layer."
The HTTP requests and responses used to load webpages, for example, are layer 7 events.
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