A tester for evaluating pullout load capacity and bond quality of anchor bolts embedded in concrete includes a Schmidt hammer for measuring a rebound number and an ultrasonic pulse velocity tester for measuring the transit time of a pulse transmitted through concrete surrounding an anchor bolt. The rebound number and the transit time are combined and matched against a database record which identifies the pullout load capacity and the bond quality. The transit time is matched to thresholds of transit times associated with porosity, internal cracking, air voids, and water pockets located around the embedded anchor bolt. The Schmidt hammer is further modified by the incorporation of a digital level for measuring the vertical and horizontal angles of inclination of the plunger with the concrete surface, a guide tube for supporting the plunger, and by using a convex plunger tip for improved registration with anchor bolt head.