An apparatus comprising a semiconductor chip that comprises an optical modulator configured to modulate an optical signal based on a received driver signal, a voltage-mode (VM) driver coupled to the optical modulator and configured to produce a level-shifted driver signal to modulate the optical signal, and a two-stage test interface coupled to the optical modulator and configured to receive and test the level shifted driver signal. The two-stage test interface comprises a voltage equalization stage coupled to an output-terminated buffer stage, the VM driver comprises a two-stage VM Mach-Zehnder modulator (MZM) driver that comprises a pre-driver coupled to a VM level-shifter (VMLS). The apparatus further comprises a resistor coupled to an output of the buffer stage, wherein the resistor comprises an amount of resistance that matches a termination resistance of a test equipment. The termination resistance is about 50 ohm (Ω).