this web page is useful
http://www.aa1car.com/library/crank_sensors.htm eg:
"Magnetic sensors can be checked by unplugging the electrical connector and checking resistance between the appropriate terminals. On a GM 2.3L Quad 4, for example, the
sensor should read between 500 and 900 ohms"
"A good magnetic crank position sensor should produce an alternating current when the engine is cranked, so a voltage output check while cranking is another test that can be performed. With the sensor connected, read the output voltage across the appropriate terminals while cranking the engine. If you see
at least 20 mV on the AC scale, the sensor is good, meaning the fault is probably in the module, coil, wiring or computer."
and
" The third type of crankshaft position sensor is a magnetic pickup that reads slots machined in a "reluctor" ring in the center of the crankshaft, on the harmonic balancer or flywheel. This setup is used on GM engines with the Direct Ignition Systems (DIS) on the 2.0L, 2.5L and 2.8L engines, and the Integrated Distributorless Ignition (IDI) on the 2.3L Quad 4, and also many Ford, Chrysler and import engines.
On the GM applications, the crank reluctor ring has six equally spaced slots 60 degrees apart. A seventh slot is spaced 10 degrees from one of the others so the crank sensor will generate an extra "sync-pulse" every revolution. The PCM then uses the information to calculate proper ignition and injector timing.
This type of sensor must be carefully positioned so the air gap is within .050 in. of the crankshaft reluctor ring."
also from wikipedia
"One detail of some designs is the "three wire" inductive crank sensor whereby the third wire is actually just a co-axial shield around the two main sensor wires to prevent them from picking up stray electrical pulses from elsewhere in the vehicle engine bay."