Keyboard shortcut query

Sorry for the silly question, and for the fact it has probably been asked already 2,451 times.

On the PC, the toolbar on applications (e.g. Word) had words like:

File
Edit
Insert
Tools

I could then open the File menu by going ALT + F

On the Mac, the toolbar options are not underlined.

Is there an easy way to access them via keyboard, as it's so much fast than using the mouse, especially when doing repetitive tasks?

Thanks

If you click on "file" in the menubar you'll see the shortcuts listed next to it. For instance command + o is open.

Most menu items have some sort of shortcut key to the right of them.

⌘ means the Command key
⌥ means the Option key
^ means the Control key
⇧ means the Shift key

if you have a Macbook, you'll need to use the fn key to use your F keys.

So for instance, if you want to create a new folder, you'll see in the File menu that the keyboard shortcut is ⇧⌘N, that is hold the Shift, Command and N keys all at once.

You can find out a lot about keyboard shortcuts here:
Mac OS X keyboard shortcuts

There are cool shortcuts for almost everything, and it's worth getting to know not only the universal ones, but the ones which pertain to any programs you use a lot.