I have done this a few times with various engines, up to jcb size in breakers yards aand mi 'shop.
You can run an engine for 20 seconds or so without a rad connected, just get as much water in the cooling system as you can, or put both rad pipes in a bowl of water.
Connect a jump lead from the body of the engine to the batt-, remove the coil from the vehicle connect the coil to the dizzy on the usual connection, connect the + side of the coil to the + of the batt with a piece of wire, use a bit of tube to go from the carb inlet to a fuel can (keep it well away from the exhaust), operate the choke with a tie wrap, and then use the + jump lead, connect one side to the batt+, and 'flash' the other side to the starter terminal, the engine should fire and make a hell of a racket without the exhaust.
Remove the - jump lead to stop.
Dont rev the engine much (it will try and flip over) and only run for a few seconds, I have done this after selling an engine on ebay, allways impresses the punters.
If your not a seasoned diy mechanic then the above is not suggested, its a bit hairy.
To do it seans way you need a proper jig with cooling arrangements, the advantage of this is you can run the engine for long periods and warm it up, this will prove the engine more thoroughly, my test is rough and ready but its good when buying a second hand motor.