An elevator suspension member arrangement includes at least two suspension members having electrically conductive cords. A monitoring arrangement generates first and second alternating voltages phase shifted by 180° and includes a plurality of input connectors and output connectors electrically connected to the cords and a voltage analyzer arrangement analyzing a neutral point voltage resulting from applying the voltages to the cords. Each suspension member can have the cords connected in parallel between the input connector and the output connector or have two groups of the cords connected in series between the connectors with the groups connected to an interconnecting connector. A multiplexer arrangement can be used to selectively test each pair of suspension members when the suspension member arrangement includes more than two suspension members.