There is a test for the reg/rectifier but it's not a reliable test using an ohm meter.
It's easier to test AROUND the reg. IOW, remove the connector from the regulator/rectifier assembly, then probe the connector & test the 2 blue wires for AC voltage (should be 24v or higher at high idle, and typically a working stator will put out 50+ volts AC). Make sure your volt meter is set to AC volts when testing the stator output and measure between the two wires of the same color, NOT between each and ground.
Now switch it back to DC volts. There are other wires in the regulator connector. The black wire is ground. Measure between it and battery negative terminal (should be zero ohm resistance). Then you have one that goes to the "battery" (actually the starter) and it should show battery voltage between that wire and battery negative. Then you'll also have an ignition wire, comes from the ignition switch, should be +12v with the key on. If any of those aren't correct, you have a wiring issue somewhere or your test is improper.
If all that's ok, then yes, the regulator is likely "bad". Usually I see stators as the most common failure point, though. The 2 blue wires as I recall. Again, AC voltage-and it needs to be more than 24v between those two wires.