Here is a list of some basic tools that will make up a good electrical tool kit. There are electrical tools for basic projects as well some for more ambitious ones. As always be extremely cautious when dealing with electrical wires and if you are unsure of anything it is always best to call an licensed electrician.
Needle nose pliers – Form loops on wire ends, grab small parts in tight areas and turn tiny electrical parts
Diagonal cutters – Cut wires, cables
Wire strippers – Easily remove insulation from electrical wires
Cable Strippers – Remove insulation from cables
Screwdrivers – Tighten and remove screws from electrical appliances
Offset screwdrivers – Loosen and tighten screws in electrical boxes
Cordless Screwdriver – Quickly remove wall plates, lighting fixtures etc.
Utility knife – Cut wire sheathing
Digital Multimeter or Circuit tester – Check electrical circuits, look for live wires, etc