Types and Levels of Testing

I have often found testers getting confused between types and levels of testing. Levels of testing is associated with SDLC whereas types of testing are not. To put it straight, there could be only four levels of testing which are Unit, Integration, Systems and Acceptance. The classic "V" model is a good example for levels of testing.
Types of testing are more detailed and differ based on context. For instance, Smoke, Sanity, Adhoc, Exploratory and other similar types are performed mostly in the functional category based on the application need. For the benefit of everyone, i am sharing my knowledge on the types of testing using the picture above . I request the visitors to correct me in case if i am wrong.

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