When both the emitter-base and base-collector junctions of a BJT are forward biased with 0.7V, the transistor can operate in a manner similar to two diodes in parallel. The simulation results indicated a base current of approximately 26.9 µA and a collector current of around 5.29 mA, demonstrating normal operation with a current gain of about 196. However, caution is advised as exceeding 100 mA can damage the junctions or internal components of small signal transistors. It is recommended to use resistors to limit current when experimenting with such configurations. Overall, while the transistor can conduct under these conditions, proper precautions are necessary to avoid damage.