System and method for testing a non-volatile memory

In accordance with an embodiment, a method for characterizing a non-volatile memory, includes: applying a first voltage on a word line conductively coupled to a non-volatile memory cell and measuring a current flowing through the non-volatile memory cell in response to applying the first voltage. Measuring the current includes: using a sense amplifier, comparing the current flowing through the non-volatile memory cell with a plurality of different first currents generated by an adjustable current source while applying the same first voltage on the word line, and determining the measured current based on the comparing.