It's a relay: it only puts out voltage when it is turned on -- when you hit the starter button. Do you hear it click (close) when you hit the starter button? If so, then disconnect it from the battery, leaving it connected to the starter switch, and measure continuity/Ohms across the high current terminals: should read 0 Ohms/short, when the starter button is closed.
Have you downloaded the Factory Service Manual yet? It is located on the Home Page of this site, for free... It has troubleshooting techniques, as well as everything Honda felt was necessary for the professional mechanics to repair, and maintain these bikes. Clymer makes a pretty good manual, as well, but having both is the best. The FSM leaves a lot of the basics out, assuming the professional knows it already; the Clymer is more user friendly (used copies can usually be had off oe-Bay for much less than retail, although it is still available from Clymer, online, too).
1979 CB750K (sold, 2012, but not forgotten)
1983 Kawasaki 440 LTD Belt Drive (sold, 2011)
1993 Kawasaki Voyager XII