The excess return of an investment compared to the return of the market. To be more precise, when compared to the return of the performance benchmark. Alpha is generated by investment strategy, so it can be thought of as the value an asset manager adds to (or subtracts from) a fund’s performance.

A group of investments that have similar characteristics and perform similarly in the marketplace. Three common asset classes are equities (also known as stocks), fixed income (e.g., bonds), and cash equivalents (e.g., money market funds).

A measure of the volatility—or risk—of an individual stock or bond, or full investment portfolio, compared to a broader financial market (e.g., S&P 500). According to an article on Fortune’s website, "The market always has a beta of 1, so betas above 1 are considered more volatile than the market, while betas below 1 are considered less volatile."

A product purchased from an insurance company that promises to pay you regular income, or a lump sum, in the future.

Wespath offers a deferred annuity in partnership with Pacific Life that pays guaranteed monthly income starting at age 80. Wespath's deferred annuity is called Longevity Income Protection, and it is designed to be one way to safeguard you from outliving the funds in your defined contribution account. Longevity Income Protection includes a spousal survivor benefit, so payments continue for the remainder of your life and your surviving spouse's life as well. Longevity Income Protection is part of Wespath's LifeStage Retirement Income program.

A pension plan that provides a monthly payment to retirees for the rest of their lives. This monthly benefit remains consistent, regardless of market changes.

A retirement account that plan sponsors (employers) and/or you as the participant (employee) can contribute to. The account is invested, so its balance is based on the amounts contributed and the performance of investments. After you retire, you control how much to take out of your account each month. If you have money left in your account when you die, you can leave your account balance to a beneficiary or beneficiaries you name prior to your death.

In plain English, "duration" refers to the time something lasts. In investments, it measures the sensitivity of the price of a bond to changes in interest rates. Specifically, duration measures the percentage price change in a bond for a 1 percentage point move in interest rates. If interest rates increase by 1%, the price of a bond with a duration of five years will decline by approximately 5%.

An acronym for environmental, social and governance issues or factors. Considering these issues is commonly associated with sustainable (or "responsible") investment practices. Wespath considers the impact of environmental, social and governance factors in investment decision-making to reduce risk and strengthen its potential to consistently provide strong, long-term financial returns.

As the word implies, environment refers to the extent a company protects the environment and mitigates climate change. Social criteria include a company’s relationship with employees and the communities where it operates. Governance pertains to the process of selecting a company’s leadership, shareholder rights and the use of accurate accounting practices, among other things.

Someone who acts solely in the interests of others. In investing, a fiduciary must act in the best interests of its clients, always placing its clients' interests above its own and upholding the duties of care, loyalty and good faith. "Fiduciary Focus" is one of Wespath's core Investment Beliefs.

A measure of a country’s economic activity, according to the U.S. Department of Commerce's Bureau of Economic Analysis (BEA). GDP measures the value of the final goods and services produced within a country's borders, and according to the BEA website, "Changes in GDP are the most popular indicator of the nation's overall economic health."

Answers:
1. a
2. b
3. d
4. c;
5. b
6. c
7. a
8. a
9. d
10. b