We use QEMU to test programs built by the toolchain binary release for correctness. I've written up the instructions for spinning up your own at: https://wiki.linaro.org/MichaelHope/Sandbox/QEMUCrossTest
It's focused on simplicity - getting a running, SSH only Cortex-A9 up and going as soon as possible. It's not the latest, not graphical, and doesn't replace the deeper documentation at: https://wiki.linaro.org/Resources/HowTo/Qemu
-- Michael