Instead of String.IndexOf, use String.Equals to ensure you don't have partial matches. Also don't use FindAll as that goes through every element, use FindIndex (it stops on the first one it hits).
if(testList.FindIndex(x => x.Equals(keyword,
StringComparison.OrdinalIgnoreCase) ) != -1)
Console.WriteLine("Found in list");
Alternately use some LINQ methods (which also stops on the first one it hits)
if( testList.Any( s => s.Equals(keyword, StringComparison.OrdinalIgnoreCase) ) )
Console.WriteLine("found in list");