My Mercruiser 4.3MPI 220HP engine management system is intermittently throwing a diagnostic code causing the audio alarm to beep twice. The 3 possibilities are: low engine oil pressure (oil levels are ok and oil is clean); drive oil low (level is ok); engine temperature too hot (engine temp running consistently at 1/4 on the gauge which is apparently where it's supposed to sit). Thermostat has been tested and it's working correctly - opening at approx 71C (160F), and closing at lower temps. Tested the temp gauge was working correctly by earthing the sensor - all ok. Interestingly, whilst doing this the two beep alarm was activated. Tested whilst flushing and all ok. Tested under load on the water and all was ok until we came in and the alarm started again. Timed the alarm - goes off every minute without fail, at speed or idling. Turned engine off, restarted and no more alarm. I suspect the sensor. Thoughts from the forum? Thanks, Peter.