Gary
To answer your question, the CD4 / RIAA amplifier is always powered, no matter the switch position.
So, if you play a Stereo LP, it functions as an RIAA amplifier only, because the carrier signal is not detected by the amplifier (no matter the switch position). 2 line-level signals are delivered to your main amplifier.
If you play a Quad LP (assuming you have an appropriate stylus, and the switch is at CD4), the carrier signal is detected by the amplifier, and 4 line-level signals are delivered to your main amplifier.
Check to see if the PCB (under the 33/45 indicator lights) is installed - it has about 300 components on it. If it is present, but not operational, get back to us.
Menahem
Learn from the mistakes of others - you'll not live long enough to make them all yourself!