A testing apparatus for magnetic recording medium and a testing method for magnetic recording medium is provided. Such a testing apparatus for magnetic recording medium, including: a rotary mechanism which causes synchronous, coaxial rotation of a master medium and a subject medium; a first support arm; a second support arm; a head stack assembly which causes synchronous movement of a first magnetic head and a second magnetic head by causing synchronous, coaxial rotation of the first support arm and second support arm, and which determines the position of the second magnetic head relative to the subject medium based on servo information signals obtained by loading servo information from the master medium into the first magnetic head; and a signal processing mechanism which synchronizes the servo information signals and magnetic recording playback signals, and which tests the magnetic recording playback signals of the subject medium.