use a multimeter to messure voltage from engine before it goes into regulator.
plug in regulator
measure leads comingout of regulator - voltage? yes? its working. no? its not
OR - run engine. test voltage on battery (fully charged) rev engine. it should read about 13.5 volts when engine it running or a little higher. kill engine. volts should drop. engine and reg is ok.
engine running and it measures about 12.5 and doesn't raise when reving or drop when killing engine then its shot.