Those of us that have worked, or just started working with smd components have discovered that testing these components can be a pain. They do make the tools for purchase but they are very expensive and usually only provide one function. This is my way of overcoming that. My instructable allows you the capability of supplying power (for testing LED's) and reading measurements (useing a multimeter) with one tool .

these are the things you will need.
1. wire strippers/cutters.
2. wire jumper (bread board style).
3. two sizes of heat shrink. vw-1 (30) and vw-1 (60).
4. and a pair of fine SMD tweezers.
5. soldering iron.
6. heat gun or a lighter.

unfortunately I had built it and then decided to make this so..... if you could use your imagination and ill try and mimic the steps.

Step 1: Cut the Cord....

Cut the jumper in half and strip back 1/8 to 1/4 of an inch and tin the end useing the wire strippers and the soldering iron. ( tinning the end with the soldering iron is optional but it helps for longevity)

Step 2: Shrink Tube Is AWSOME!!!

cut a length of the "vw-1 (30)" (aka the smaller of the two) so it covers the end of the plastic part of the jumper, and fit it over the tweezers till the tip of the plastic part of the jumper is snug on the tweezers. it doesent have to be precise just make sure its snug before you shrink it.
use a heat gun/ smd rework station/ lighter (*shudder*), and shrink it. Now cut another piece of shrink tube just a little longer in length of the bigger heat shrink "vw-1 (60)" and shrink over all of it.

Step 3: Final Adjustments. ...

useing the wire strippers bend the ends so they almost touch when you squeeze the tweezers, and that should be it.

Step 4: Go Test Some Stuff....

have fun and please send sugestions if you can think of any improvements. also when mesuring really fine values make sure to take the wire resistance into account. I haven't tested it on ceramic capacitors yet (my multimeter doesent have that option) but with TAX SEASON right around the corner anything is possible.

ENJOY