We present an automatic test development methodology for FM transceivers based on frequency-domain signature analysis and delayed-RF set up. We develop two distinct pass/fail criteria based on eigensignatures and envelope signatures and a test generation algorithm that aims at minimizing the required delay while attaining full coverage of target faults. We develop a fault injection and simulation platform for a VCO-modulation, low-IF transceiver architecture using MATLAB and behavioral models including non-ideal response. The proposed methodology enables the automation of the test generation process, thus reduces the test development time. Experimental results have shown a 90% reduction in the required delay thereby reducing the cost of this test hardware item.