The CP sensor is mounted on the right front of some V8 engines, is a variable reluctance sensor triggered by a trigger pulse wheel (36 minus 1 tooth). Its purpose is to provide the PCM with an accurate ignition timing reference (when the piston reaches 10 degrees BTDC) and injector operation information (twice each crankshaft revolution). The crankshaft vibration damper is fitted with a 4 lobe pulse ring. As the crankshaft rotates, the pulse ring lobes interrupt the magnetic field at the tip of the CP sensor.
Using DVOM on the AC scale and set to monitor less than 5V, measure voltage between the sensor Cylinder Identification (CID) terminal and ground. The sensor is okay if the voltage reading varies more than 0.1V AC with the engine running at varying RPM.