International Telemetering Conference Proceedings / October 28-31, 1996 / Town and Country Hotel and Convention Center, San Diego, California / This paper will describe a test technique developed to measure the delays caused by the use of asynchronous multiplexers/demultiplexers. These devices are used for both signal transmission (microwave and fiber optic) and signal recording (especially helical scan digital recorders). The test technique involves the generation and decoding of asynchronous telemetry signals. The bit rates of the telemetry signals are variable. Relative time is embedded in the telemetry signal as a 32-bit data word. The paper will also present measured delays for two multiplexers/demultiplexers for different combinations of bit rates.