Validation and verification activities are essential enablers for the practical application of computational electromagnetics (CEM) models in industrial applications, but these terms are widely confused or merged. Furthermore, concepts such as the accuracy and precision of measurement results are often poorly understood. As model accuracy is most commonly judged against measured results there is a strong case to establish a well-defined vocabulary for describing the accuracy of CEM models that is both consistent with, and complementary to, the existing vocabulary associated with measurements. In order to help clarify the situation, this study identifies the difference between validation and verification in relation to CEM, suggests a mapping between CEM and measurement processes, collates a number of relevant definitions from existing measurement standards, and proposes new and complementary definitions that relate specifically to CEM simulation. It is considered that the proposed vocabulary could help to avoid misunderstandings between the test and modelling domains and eliminate ambiguity in standards relating to CEM validation and verification. In addition, the terminology presented here could also be readily adapted to help develop or clarify similar standards for other physics-based simulation domains, and perhaps even for more general mathematical modelling applications.