That depends on the type of material the sling is made from, but many synthetic slings have "indicators" that if they show then the wear has progressed to the point where the sling should not be used.
See http://www.blm.gov/pgdata/etc/medialib/blm/az/pdfs/energy/mohave/feis/pod/hsse.Par.88869.File.pdf/021-Attach_U_Rigging.pdf
if the ----- is showing, the sling is not safe for use.
2 answers
Better link:
http://www.slingmax.com/synthetic.htm
http://www.slingmax.com/synthetic.htm