4. Digital Multimeter(s) and Minigrabber Leads
I recommend a least two meters here...a reasonably inexpensive meter, with an hfe measurement function, and a good True-RMS meter.
For the 'inexpensive' meter, a cheap Harbor Freight meter should do (but please stay away from those $3.99 and $4.99 jobs). This one has hfe measurement capability, and while it is not autoranging, which is good for the rookies, using it will force the rookie to understand what he's measuring by making them select the proper range. The problem with cheap meters is that they are easy to destroy by dropping, or by connecting it in Ohms mode to a live circuit (a Fluke will simply not give you a proper reading in this case but remain undamaged, and Fluke meters are designed to take a bit of physical abuse as well). If someone knows a cheap autoranging meter with an hfe function for under $30, let me know.
For the True-RMS meter, right now (11/16/2010), the Fluke 114 or 115 are reasonably priced. If that is too expensive still, take a look at the Triplett 9045. True-RMS, autoranging, capacitance and frequency measurement, and an analog bar graph for under $100.
The point contact leads shipped with most meters is the cause of more blown amps than I care to count here at AK. Tuck them in a drawer somewhere and forget about them. Here are Pomona Minigrabber leads, and this is what you shall use. Digikey PN 501-1060-ND for 48" black, and 501-1061-ND for 48" red. Every meter you own should have a set of these.