The meaning of Testament in the Bible
(From International Standard Bible Encyclopedia)

tes'-ta-ment: The word diatheke, almost invariably rendered "covenant," was rendered in the King James Version "testament" in Hebrews 9:16-17, in the sense of a will to dispose of property after the maker's death. It is not easy to find justification for the retention of this translation in the Revised Version (British and American), "especially in a book which is so impregnated with the language of the Septuagint as the Epistle to the Hebrews" (Hatch).

See COVENANT, IN THE NEW TESTAMENT.

See more on the meaning of Testament in the Bible:
Testament {Easton's Bible Dictionary}

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