This document analyses qualities of methods used for testing dynamical parameters of Digital-to-Analog Converters (DAC) using a multi-frequency signal. As the source for these signals, Amplitude Modulated (AM) and Frequency Modulated (FM) signals are used. These signals are often used in radio engineering. Results of the tests, like Effective Number of Bits (ENOB), Signal-to-Noise and Distortion (SINAD), are evaluated in the frequency domain and they are compared with standard results of Sine Wave FFT test methods. The aim of this research is firstly to test whether it is possible to test a DAC using modulated signals, secondly to reduce testing time, while estimating band performance of DAC.