1. Waves can be either longitudinal or transverse, depending on the direction of particle motion relative to the wave propagation.
2. The key parts of a wave include the crest (maximum displacement), trough (minimum displacement), wavelength (distance between two similar points), amplitude (maximum displacement from rest), and frequency (number of waves passing a point per unit time).
3. The speed of a wave can be calculated using the formula: speed = frequency x wavelength.