Could be Fuel Restriction
Yes, buzzer could sound off if fuel restriction.
You indicated how could bulb be a simple fix? The bulb has an anti-siphon valve in it. They DO go bad. Everyone here is giving good advice. Here is my 2 cents in this order.
Check the ball to see if it stays hard (No jokes guys! LOL). If it doesnt, change it out. Next, check fuel filter on block. I doubt this is the suspect but check anyway.
Next check your fuel filter/water separator. Is it full of water? Has it been changed this season? If not, I would suggest replacing.
Your buzzer could also be indication that VRO not pumping enough. Do you have your VRO still connected? Is the oil ball primed and stays hard? VRO pumps do go bad too! Could you have the start of a deteriotated fuel or oil line? Check it out.
Also, you indicate that your Ocean Runner is an early model. To be on the safe side, I would pull the air silencer off and crank her up on the muffs. Check each carb and ensure no fuel is spewing out. you may get miniscule misting, but unacceptable for a spew or spray at idle. Start of clogged up high speed jet(s)? Worser yet, a reed could have become loose and now you run the risk of cylinder damage. This is atypical, but definitely e-z to check and worthwhile.
Oh, also make sure that your fuel vent is clear and not clogged up with crap like corrosion.
Post back after you have done this. Suggestion: purchase a manual for your motor. It has a wealth of info. Also, check out
www.marineengines.com. You can post your inquiry there too (specific to OMC/Johnson/Evinrude. Many very knowledgeable ppl on that site who KNOW outboards.
One last thing... may top notch mechanics would likely tell you to FIRST check spark and compression to determine you don't have the makings of engine failure. Check to see if you have a strong blue snapping spark on each cylinder that jumps at least 7/16". Check compression too on each cylinder. If your readings deviate more that say 15%, I would consider running OMC Engine Tune thru the schraeder valve to see if you have sticking rings. This decarbs your engine pretty well. If that doesnt help, then you may have the start of cylinder damage resulting in loss of compression. At which point, you are forced to pull the heads for visual inspection.
If I were in your shoes, I would do the fuel/oil stuff first and cross my fingers. Find the root of your problem NOW before a catastrophic engine failure occurs like a blown powerhead!
Best of luck.
TogTime.