Yes, you can but it only makes sense using sine wave, frequency range of amplifier and of course, make sure the output amplitude of generator is low so not to overdrive amp input. Typical level for non pre amplified inputs is 0.773V (if my memory serves me well) so setting XM at 1V or even less should work fine.
XM in standalone version is no different than any signal generator. I used 1kHz signal from generator to test power amps for harmonic distortion but that was in my high school times, long time ago.
Besides the amplitude of signal there is nothing else. You can start with low and check for distortions. That's the way to test frequency range of any audio equipment, by feeding signal from generator to the input and hooking oscilloscope over simulated load (according to the amp rating) across the output. Same idea can be used with 1kHz to trace the signal and locate a problem within the audio device.
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