To check stator rotor output:
1) disconnect the stator plug
2) start bike
3) set multimeter to VAC
4) read across the stator plug (one probe in each hole)
5) have someone rev the bike up to 2000-3000 RPM
6) stator/rotor output should be 16-20 VAC per 1000 RPM
To check for a shorted or grounded stator:
1) set multimeter to "ohms"
2) read across the stator plug
3) resistance should be 0.2-0.3 ohms
4) now check each stator pin to ground
5) should have no continuity
7) reconnect stator plug
To check voltage regulator function:
1) set multimeter to VDC
2) check battery voltage...12.5-13.0 VDC
(if the battery isn't fully charged, this test is useless)
3) start bike
4) hold the red lead of the multimeter to the positive post of the battery and the black lead to the negative post.
5) increase engine RPM to at least 2000 RPM
6) multimeter will show regulator charging rate which should be 14.2-14.6 VDC. A brand new fully charged battery will sometimes only indicate 14.0 VDC, anything above 14.6 VDC is cooking the battery