If you have INPA, you can check what has set off the alarm. This is thanks to scottjoh.
(mine was the hood switch being the problem also)

Go into the E53 -> Body -> Central Body Electronic ZKE3 -> Read - Shadow. There you should find the trip source for the alarm and the number of occurrences with 31 being the maximum.[/QUOTE]

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2004, X5, 3.0, 202k+