Re: 1983 Mercury 150
When the key is first turned on and the alarm module is powered up, it gives a single beeeep.
An OIL alarm is a rapid beeping
An OVERHEAT alarm is a solid beeeeeeeeeeeeeeeeeeeeeeeeeep
You need to verify which you are hearing, since the ignition key is actually TWO switches in one, the first is a ground-to-kill in the off position, the second powers the alarm and accessories while ON.
You could have a poor switch, intermittently failing the power-on side, causing the alarm to signal it powering up. If this is so, you may also see gauges flickering as if you are flicking the power on-off-on.