1. Disconnect the wiring harness from the buzzer and remove the buzzer from the control panel.
2. Take a hot and ground lead from a 12v battery and test the buzzer's inputs. The top center is ground, the two left and two right pins are inputs.
3. If the buzzer buzzes with 12v on each input, your problem is with your sender.
When we bought our boat, we never got an alarm for oil pressure when starting up. Not good. When I did the above test, I found that three of the four buzzer inputs were good, but the one for oil pressure was bad. Probably fried internally. I picked up a pin extraction tool at Radio Shack for about five or six bucks, and swapped the pins for the oil pressure line and the spare line (not used unless you have a saildrive) at the harness plug. Now everything works. Total invested - about six bucks.