Abstract: A tester for measuring the time with which a signal propagates through an electronic component is comprised of a ring oscillator in which pulses are periodically generated and propagated around a loop. Within this loop, a fixture is disposed for selectively holding either the electronic component that is to be tested, or a shorting plug, in a removable fashion. Pulses from the ring oscillator propagate through the fixture, and their period reflects whether the component/shorting plug is being held. Coupled to the loop is a timing circuit which generates a timing signal each time it receives a predetermined number of the pulses on the loop. Using this timing signal, the signal propagation delay through the electronic component is determined substantially more accurately than that which is attainable by measuring propagation delay through the component directly.