will this test work on an alternator with an external regulator? Thanks
No, it won't work on an external-regulated alternator. Use the diagram provided above, and apply 12 volts from a known good source of battery voltage to the "F" terminal of the alternator. The voltage should go quite high, 15 volts or more, as the engine speed is increased.
BTW,
NEVER- - -EVER RUN AN ALTERNATOR-EQUIPPED ENGINE WITH THE BATTERY CABLE DISCONNECTED! The battery acts as a shock absorber in the charging system to dampen out voltage spikes. Disconnecting the battery while the engine is running can produce spikes in excess of 100 volts, and it can fry solid state circuits like rectifier diodes and radio amplifiers, etc. Not a good practice!