Hz = the actual MONITOR refresh rate, i.e. the rate that images show up on the monitor
FPS = the number of frames per second a game can place on an output buffer. The monitor reads from that output buffer at it's internal refresh rate. If your fps is v-synced, the game waits for that output buffer to be fully read before putting out the next frame, to avoid switching the image halfway though a scan
"Rez" is short for resolution, the number of pixels in each direction on the screen. Full HD has a resolution of 1920x1080 pixels
"MP" is simply the resolution multiplied out and expressed in terms of millions of pixels. Full HD is 1920x1080/1000000 MP, or roughly 2MP