a) Remove the speed sensor.
b) Connect the battery to terminals "1" (+) and "2" (-).
c) Slowly turn the shaft and check for voltage between terminals "2" and "3".

d) Check that the voltage changes 4 times per revolution of the sensor shaft (appears and disappears).
The material is reprinted from an online resource: ToyotaMan
If the operation differs from the description, replace the sensor.
