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A
It applies only the tractor brakes; it's fine for parking
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B
It applies only the trailer brakes and is used for testing; it should NOT be used for parking because it works on air pressure — if air leaks off, the trailer brakes release and the trailer could roll away
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C
It controls the engine; never touch it
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D
It's the emergency brake and should always be used for parking
Why this is the answer
TRAILER HAND VALVE (TROLLEY/TROLLEY VALVE): A hand-operated control that applies ONLY the trailer service brakes. USES: Primarily for TESTING the trailer brakes during pre-trip; some drivers misuse it, but it is NOT recommended for normal braking (can cause trailer skid/jackknife if used alone) or for parking; DO NOT USE FOR PARKING: The hand valve applies the trailer SERVICE brakes using air pressure; if the air bleeds off over time (normal slow leakage), the service brakes RELEASE and the trailer could roll away — there is nothing holding it; FOR PARKING: Use the PARKING BRAKES (spring brakes) — these are mechanically held by spring force and remain applied even if air pressure is lost (fail-safe); set the trailer and tractor parking brakes (push in the brake knobs); chock wheels on a grade; the distinction between air-applied service brakes (hand valve — temporary) and spring-applied parking brakes (mechanical — holds without air) is critical; never rely on the hand valve to hold a parked vehicle.
Source: FMCSA CDL Manual — Trailer Hand Valve