First, if you have not moved the timing, by all means check it but do NOT move the distributor. IF the timing is way off what you knew it to be, then it's slipped, that is, assuming the engine runs poorly
Also, you can put a breaker and socket on the front crank bolt. Move the crank cw, then ccw, and "feel" for the end of slop in the chain. If you can move the crank 10* or so, then it's too loose.
If you have a "stocker" cam, you can check for what used to be called "split overlap." On older, stock cams, one one crank revolution, with no1 ready to fire, both valves are closed. On the next crank revolution, both valves would be "equally open" one opening, the other closing. You of course have to pull the drivers side valve cover to see this.
On more modern engines, 'specially with hot cams, this is not relevant.
"What" is this engine? If it's a stocker and you know or suspect it has a plastic top sprocket, and it has more that, say, 60K on the clock, then it's probably time to tear into the cam drive, anyhow. One big problem with plastic junk is that they can get into the oil pump and damage "stuff"