At the time of the writing of the Bible book of Hebrews, the Greek term translated “assured expectation” was commonly used. It often appeared in business documents and carried the idea of a guarantee of future possession of something. Therefore, one reference work suggests that Hebrews 11:1 could be translated: “Faith is the title-deed of things hoped for.”
If you have ever bought an item from a reputable company and then waited for it to be delivered, you have exercised that type of faith. The sales receipt in your hand gave you reason for faith in the company from which you bought the item. In a sense, that receipt was your title deed, your guarantee that you would receive what you purchased. If you had lost the receipt or had thrown it away, you would have lost the proof of your claim of ownership. Similarly, those who have faith that God will fulfill his promises are guaranteed to receive what they hope for. On the other hand, those who do not have faith, or who lose it, are not entitled to receive the things God promises.—James 1:5-8.
The second expression at Hebrews 11:1, translated “evident demonstration,” carries the idea of producing evidence that contradicts that which only appears to be factual. For instance, the sun appears to revolve around the earth—rising in the east, moving through the sky, and setting in the west. However, evidence from astronomy and mathematics reveals that the earth is not the center of the solar system. Once you become familiar with that evidence and accept it as true, you have faith that the earth revolves around the sun—despite what your eyes tell you. Your faith is not blind. On the contrary, it gives you the ability to see things as they really are, not merely as they seem to be.