Here is how to use Microsoft's makecert utility to generate certificates:

To make a CA certificate (self-signed):

makecert -cy authority -r -n "CN=MM Root Authority" -sv zot.pvk zot.cer

To make a certificate signed by the new CA:

makecert -ic zot.cer -iv zot.pvk -n "CN=MM Test SSL,O=MM Test SSL,C=CA,S=Alberta,L=Calgary" -sv test.pvk test.cer