If it is a true RMS meter that is. Otherwise it displays the 'average' value.

Generally non-true-rms meters are scaled to account for the RMS/Average form factor of the waveform being measured. The form factor scaling applied is normally assumed to be for a sine wave input on an AC input range.

True rms meters will notionally respond to the true rms value of any input waveform.

 

I'll take your word for it.

 

You cannot properly test caps and transistors with a DVM.

HFE is not a proper test either.

If it is a true RMS meter that is. Otherwise it displays the 'average' value.

Either way, this cannot be properly measured without a scope. OP is talking high frequencies.

^ he's right. Knows what he is saying.

I'll take your word for it.

Point of the matter is generalizations can't be made when we have no clue what meter or scope the OP is using, we can only make suggestions on typical meters, and not state that one suggestion is "right" or "wrong".

ALL of the posts above are doing Nothing to assist the OP, and may be confusing him instead.

 

One of the problems you are fighting in a lot of DVMs have 10MΩ input impedance. Since the resistors your are using are also 10MΩ the meter has a significant effect on the readings, you are putting 10MΩ (the meter) in parallel with the 10MΩ in the circuit you are reading.

If the resistors were 100KΩ the effect would be much less pronounced.