How do I determine if oil level sender is bad? 87 300E

[dirtysocks]

yesterday I checked my oil and it seemed pretty low, below the red plastic min marker. I usually check it frequently, but I neglected to for a week or so, assuming that my low oil light would come on. Well, it never did. Is there a way to check if the sender is faulty? (multimeter or something?) I know the light itself works, b/c it comes on when I turn the key to position 2.

I already did a search on this, and surprisingly I could not find anything.

Thanks for your time.