There is no way to test an Alt-Key sequence with Test Studio.  This is a very serious problem with web-based system, because Alt is used as the standard access key for all browsers (part of the standard access key sequence for FireFox).  When you record an Alt-Key sequence in Test Studio, it does not work on playback.  If you then try to generate an Alt-Key sequence with a coded step, it doesn't work because Test Studio internally converts the Alt-Key sequence to be an AltGr-sequence, which none of the browsers (Internet Explorer, Google Chrome, FireFox, Safari) recognize.  Three years ago the browsers would have generated an Alt-Ctrl sequence to represent AltGr, but they don't do that any more.