A system and method for testing and replacing equipment are disclosed. The system may include a first memory module configured to store first characteristics of the first equipment; a second memory module configured to store second characteristics of the second equipment; and a portable reader configured to read the first and second memory modules and to compare the second characteristics with the first characteristics to determine if the second equipment is a suitable replacement for the first equipment. The method may include storing first characteristics of a first equipment on a first memory module; transmitting the first characteristics to a portable reader; measuring second characteristics of a second equipment using a measuring device associated with the portable reader; and comparing, with the portable reader, the second characteristics with the first characteristics to determine if one of the first and second equipment is a suitable replacement for the other equipment.