A test set for communications systems is described which includes a pseudo noise sequence generator providing a test signal that is fed to a pair of signal channels. The first channel includes a spectrum shaping filter and a conditioning amplifier. The second channel includes a variable delay circuit, a spectrum shaping filter matched to the first filter, and an amplifier. The output of the first channel was applied to the system under test. The output of the system and the output of the second channel are compared to determine the degree of distortion suffered by the test signal due to the communications system
