testing kubota dynamo and regulator?

When testing the dynamo, the two wires coming from the dynamo are connected to the voltmeter, correct? the voltmeter should show 40 AC volts. correct?
On the regulator, what two wires do i connect to the voltmeter to get the correct reading? Red wire from regulator to the red wire on the meter, and the ground wire on the volt meter to a ground on tractor?
That will that give me a reading of 40 AC volts if the regulator is working properly, right? If i don't get a reading there does that mean the regulator is bad? Also, is there suppose to be a wire from the regulator going to the positve terminal on the battery in order to charge it?
Any help will be greatly appreciated
M. R.