Test Coverage criteria are an essential concept for test engineers when generating the test cases from a System Under Test model. They are routinely used in test case generation for user interfaces, middleware, and back-end system parts for software, electronics, or Internet of Things (IoT) systems. Test Coverage criteria define the number of actions or combinations by which a system is tested, informally determining a potential "strength" of a test set. As no previous study summarized all commonly used test coverage criteria for Finite State Machines and comprehensively discussed them regarding their subsumption, equivalence, or non-comparability, this paper provides this overview. In this study, 14 most common test coverage criteria and seven of their synonyms for Finite State Machines defined via a directed graph are summarized and compared. The results give researchers and industry testing engineers a helpful overview when setting a software-based or IoT system test strategy.