Depends what you're looking for. A dedicated game for the purpose of testing could be the answer, but it may be somewhat difficult testing switches, lamps, etc via the playfield inputs and outputs with standard game ROMs. The better way to be testing boards quickly is with the Bally "brown box" factory test fixtures. Since those aren't readily available and take up a pretty large footprint that a lot of people don't have space for, I made some compact diagnostic tools for Bally over @ http://www.pinitech.com/products/cat_diagnostic.php that you can connect either at the bench or in the game.

There's MARCO and LEON roms for the Bally machines. At this point, MARCO's are really the recommended test roms -- you can reach out to Pinside user "MarAlb" for those ROMs. I'd imagine both of those test roms are more for testing just the MPU at the bench. I don't know if there's any test ROM you'd want to throw in a game (aside from possibly the FIX-IT mentioned below).

FIX-IT tester (by TWO-BIT, now looks like Game Boards USA??) is quite useful. Price has gone up some on it in recent years. It's got a test program mode where it can drive more advanced lamp/solenoid/sound tests than the self-test switch can do. This is what Clay I think uses on his full Bally setup mounted to plywood (ie. transformer, all the boards, plasma displays are mounted to plywood). He'll probably chime in at some point.

Hope that helps!