Above Par is when the amount of money you pay for a bond (Principal Amount) is the greater than the amount of money you get back when the bond matures (Face Value). A bond that trades "above par" is also called a Premium Bond.
Annual means every year.
Ask is the price where a trader will sell a stock, bond or other financial investment. Offer is another word for Ask.
An asset is anything that has value. A stock, bond, house, painting and jewelry are all examples of assets.