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I would assume then that is your tilt & trim buzzer, either it was not connected properly at the controls or something is causing it to trigger inside the engine. When you pop the lid, it is the black hockey puck looking thing about the size of an oreo cookie. It is part 21 in the link below.
http://www.boats.net/parts/search/H...F50A2 LHTA/ENGINE COVER LOWER CASE/parts.html
I could be wrong but that is where I would start.