When turning on the ignition on my new (used) '95 SN, I notice the engine light (pictured) turns on. Is this normal?

I haven't yet had the boat in the water, but based on running it off the hose, I suspect the engine is in SLOW mode. When revving past 2500, the engine is brought back down below 2500 RPM where it idles wonderfully. I also here a rather annoying high-pitched sound coming from the engine -- like an alarm -- not a belt. My current suspicion is that there's an issue with the oil and/or water temp sensor. Engine temp and oil pressure sending units are showing good values on the gauges, and I have no reason to suspect a lack of oil pressure or high engine temp.
I'm just not sure if that "engine light" always lights as part of a diagnostic when starting the boat or not. If not, then I'm I think there's a good chance one of these sensors is acting up.
Thanks,
Rick
I haven't yet had the boat in the water, but based on running it off the hose, I suspect the engine is in SLOW mode. When revving past 2500, the engine is brought back down below 2500 RPM where it idles wonderfully. I also here a rather annoying high-pitched sound coming from the engine -- like an alarm -- not a belt. My current suspicion is that there's an issue with the oil and/or water temp sensor. Engine temp and oil pressure sending units are showing good values on the gauges, and I have no reason to suspect a lack of oil pressure or high engine temp.
I'm just not sure if that "engine light" always lights as part of a diagnostic when starting the boat or not. If not, then I'm I think there's a good chance one of these sensors is acting up.
Thanks,
Rick
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