A test system is provided that for testing base stations (BSs) and user equipment (UE) that includes a radio channel (RC) emulator having a dynamically-variable channel model that is configured to be dynamically varied in accordance with beam indices received in the RC emulator from the BS and/or the UE, depending on implementation scenario and on whether the BS or the UE is the DUT. The beam indices are used by the BS or US to obtain antenna element weights that are used by analog beam former circuits of the BS or UE, respectively, to weight their antenna elements to cause time-variant antenna beam patterns to be formed by their antenna arrays, which are modelled by the dynamically-variable channel model to generate time-variant signals. The RC emulator performs emulation operations and outputs faded time-variant signals for use by the BS or UE in evaluating characteristics of the DUT.