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As the specs - http://sine.ni.com/nips/cds/view/p/lang/en/nid/212383 say, the analog output rate is 5kS/s. So, a sine wave is possible. The frequency of the sine wave should be no more than half that and probably 1/10 that or so for something that actually resembles a sine function. There are waveform functions to create the data and you pass it to a DAQmx Write. See the examples that come with LabVIEW. The DAQ Assistant can also be used.
