A non-contact apparatus and method for measuring of the leakage current and capacitance of p-n junctions in test structures within scribe lanes of IC product wafers is disclosed. The apparatus has a light source optically coupled with a fiber to a transparent electrode at the end of the fiber, which is brought close to the p-n junction under test. The ac signal generated from the test p-n junction is captured by this transparent and conducting coating electrode. The leakage current of a test p-n junction is determined using the frequency dependence of junction photo-voltage signal and reference signals from a p-n junction with low leakage current and known capacitance.