For frequency measurement information on the FP-CTR-500/502 modules. Please see KnowledgeBase Article #1TB63SUS
http://digital.ni.com/public.nsf/3efedde4322fef19862567740067f3cc/d8db42f9fdc3607e862568640047f144?OpenDocument
Ultimately, the FP-CTR-500/502 modules are not designed for frequency measurement, although it is possible to use them to measure frequency. The one thing is that it works best to do the measurements over relatively long integration periods (1/4 second or more).
Regards,
Aaron
LabVIEW Champion, CLA, CPI