I have a 1997 mercury 40hp 4 cylinder classic 2 stroke outboard engine. Had the boat out today, alarm was sounding, disconnected the oiler wires and alarm continued. ( I have premix in the fuel tank) I pulled the hood and the checked to see if the engine was hot but it was not. I could keep my hand on the engine. I could not reach rpm’s over 3k with a top speed of 7mph. The tach was intermittent and the volt gauge creeped up to 14 volts. I was leaning towards stator, but after taking to another person they suggested checking the temp sensor, that the engine may be in limp mode. I removed the sensor and had continuity at room temperature. I went ahead and dunked it in boiling water and again I had continuity. Marine Engine shows I need part number 87-16775a3 which of course is expensive. Can I use 87-16775a1 or a2 instead? It appears the only difference is the terminal connection.
Also, am I on the right path or am I misdiagnosing this thing?
Thanks for any advice.
Also, am I on the right path or am I misdiagnosing this thing?
Thanks for any advice.

