Okey, first we have to find out if your engine has a points distributor or an electronic distributor.
The points typ has only one terminal with a white/black wire connected, the electronic typ has two terminals one with a white/black and one with a blue wire.
The electronic dist has an preamp instead of the points.
If you have an electronic distributor there should allways be 12VDC at blue wire at dist. when ign.key is in IGN position.
The ignition system is feed from the battery and must have power from there to work. It does not matter which distributor you have.
If you have an aftermarket CD module from CDI (115-3301) the module should give a high frequence pinching sound when turning the key at IGN. position.
If not, the module is bad.
Set ign.key at IGN position and measure with a VOM at the terminal strip mounted beside the exhaust cover.
There should be 12VDC at red wire to ground. If not, measure at red wire to ground at starter solenoid post with one thick and one thin wire there should be 12VDC.
If there is 12VDC at red wire measure at blue wire at terminal strip. There should be 12VDC, if not the issue is the keyswitch.
If all this is okey pull all plugs out from the head, turn the flywheel to TDC at #1 cyl.. Check it with a screwdrive in top hole.
Unhook high tension wire at the coil, put a of piece wire in the high tension post in the coil and hold the end of the wire about 1/2 in from ground.
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Unhook the white/black wire from distributor and scratch it to ground. Each scratch should produce a spark.
If no spark, then either the coil is bad or the CD module is bad (factory Motorola/Delta typ).
If spark the check the high tension wires at dist.cap.
Ground #1 plug, rock flywheel back and forth. the plug should spark.