From Yahoo!® Answers
"How to check terminals of a transistor?" a good
The following YouTube video demonstrates how to check a transistor.
http://www.youtube.com/watch?v=YsJXFLnA62s&feature=related
"What does HFE mean on my multimeter i know all the rest?" Chris Mclachlan
hFE is the small signal "Forward Current Gain" of a bipolar junction transistor.
YouTube video demonstrates how to find gain of transistor using a multimeter.
http://www.youtube.com/watch?v=fttLJMZuqqo
"What is hFE and what's the function and use of it in multimeter?" mohammad
HFE is an abbreviation, and it stands for "Hybrid parameter forward current gain, common emitter", and is a measure of the DC gain of a junction transistor.
So on the multimeter, it indicates a mode where the meter can measure (probably crudely) HFE of a transistor.