Is there any significant difference between the two python keywords continue and pass like in the examples
for element in some_list
Yes, they do completely different things. pass simply does nothing, while continue goes on with the next loop iteration. In your example, the difference would become apparent if you added another statement after the if: After executing pass, this further statement would be executed. After continue, it wouldn't.
>>> a = [0, 1, 2]
>>> for element in a:
... if not element:
... pass
... print element
...
0
1
2
>>> for element in a:
... if not element:
... continue
... print element
...
1
2