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It does have an Ignition Control Module. It is mounted under the distributer cap by 2 screws and has wires plugged into it. they are $40-$60 dollars to buy from your local AutoZone, Napa, or O'Reily Auto Parts stores. Beware: you must remove airbox and hoses to get to the ICM and it is very difficult to get out after that anyhow.

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Q: Does a 1986 Ford Van E150 have a Ignition Control Module and an electronic Control Module?
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