Radio frequency (RF) transceivers require a disproportionately high effort in terms of test development time, test equipment cost, and test time. The relatively high test cost stems from two contributing factors. First, RF transceivers require the measurement of a diverse set of specifications, requiring multiple test set-ups and long test times, which complicates load-board design, debug, and diagnosis. Second, high frequency operation necessitates the use of expensive equipment, resulting in higher per second test time cost compared with mixed-signal or digital circuits. Moreover, in terms of the non-recurring engineering cost, the need to measure complex specfications complicates the test development process and necessitates a long learning process for test engineers. Test time is dominated by changing and settling time for each test set-up. Thus, single set-up test solutions are desirable. Loop-back configuration where the transmitter output is connected to the receiver input are used as the desirable test set- up for RF transceivers, since it eliminates the reliance on expensive instrumentation for RF signal analysis and enables measuring multiple parameters at once. In-phase and Quadrature (IQ) imbalance, non-linearity, DC offset and IQ time skews are some of the most detrimental imperfections in transceiver performance. Measurement of these parameters in the loop-back mode is challenging due to the coupling between the receiver (RX) and transmitter (TX) parameters. Loop-back based solutions are proposed in this work to resolve this issue. A calibration algorithm for a subset of the above mentioned impairments is also presented. Error Vector Magnitude (EVM) is a system-level parameter that is specified for most advanced communication standards. EVM measurement often takes extensive test development efforts, tester resources, and long test times. EVM is analytically related to system impairments, which are typically measured in a production test i environment. Thus, EVM test can be eliminated from the test list if the relations between EVM and system impairments are derived independent of the circuit implementation and manufacturing process. In this work, the focus is on the WLAN standard, and deriving the relations between EVM and three of the most detrimental impairments for QAM/OFDM based systems (IQ imbalance, non-linearity, and noise). Having low cost test techniques for measuring the RF transceivers imperfections and being able to analytically compute EVM from the measured parameters is a complete test solution for RF transceivers. These techniques along with the proposed calibration method can be used in improving the yield by widening the pass/fail boundaries for transceivers imperfections. For all of the proposed methods, simulation and hardware measurements prove that the proposed techniques provide accurate characterization of RF transceivers.