"Panegyric" and "elegy" both mean praise or warm words. "Rant" means a tirade or yelling. "Probity" means fairness or honesty. "Proclivity" means an inclination or habit. "Odyssey" means a journey or excursion. 

"Magnanimity" and "chivalry" both mean generosity. "Avarice" means extreme greed. "Cupiditiy" also means extreme greed or acquisitiveness. "Maxim" means a saying or aphorism. "Myriad" means a lot of something.

"Credence" means acceptance or trust, so "acceptance" is the correct answer. None of the other answer choices are close in meaning to "credence": "conflagration" means a large fire; "renaissance" means a rebirth or renewal; "investment" means something given or lent with the expectation of a return; "apprehension" means anxiety or fear. 

While "anarchy" and "monarchy" are both types of government, they do not convey the same meaning as "democracy." The word closest in meaning is egalitarian.

The “nomenclature” of a given discipline is the set of terms specific to it. For example, one can speak of the “binomial nomenclature” that is used to describe animal species (e.g. man is homo sapiens). One can thus say that a given “nomenclature” is the set of “terminology” for a discipline. This is the best option among those provided.

The word “narrative” comes from the Latin for “to tell” as in “telling a story.” The word “storyteller” is close to this—to “narrator” not “narrative.” Although one might think of the enumeration of things as being a sort of narrative, it is more proper to say that a “chronicle” provides a narrative. A “chronicle” is an account of historical events told as a narrative according to time. The word “chronological,” meaning “related to time” is related to “chronicle.”

The “milieu” of something is the “middle location.” A given “milieu” is the “midst” in an expression like “in the midst.” Therefore, we call a thing or person’s “milieu” his or her environment. For instance, we may speak of the “political milieu” of a given family that has strong ties to political factions, or we may use “milieu” to indicate the general socioeconomic environment in which someone lives.

The word altercation comes from the Latin for “to dispute or argue.” It means roughly the same in English. For example, one might say, “After the large altercation between the two men, their friends decided not to invite them to the party, fearing that they would argue in public and disturb the peace of the gathering.”

"Nostalgia" means sentimentality or a fondness for the past. "Ailment" means an illness or affliction. "Hardship" means a difficulty or personal burden. "Remedy" means a cure or solution. "Prudence" means caution or carefullness. 

"Philanthropy" and "charity" both mean humanitarianism or generosity. "Avarice" means extreme greed. "Quiescence" means inaction or quiet. "Diatribe" means criticism or tirade. "Improvidence" means carelessness or neglect.