I am the original owner of my 2005 342, Merc MPI 350, bravo 3's--
I have encountered a situation that I believe might be a bad sensor.
With the engine (Starboard) running or just the ignition in the on position, I am getting a two beep alarm every 2 minutes. The drive lube is filled, engine is not overheating and show good oil pressure.
Also, I have closed the circuit on the drive lube case and the alarm immediately beeps continuously, and when I open the circuit back to normal conditions the two tone beep goes back to every two minutes.
Any suggestions would be greatly appreciated,