As was mentioned by someone earlier, that alarm is also transmitted.

The local audio volume can also be adjusted by the volume control of the radio.

Some radios allow the alarm button to be set to perform a different 
function, either in a menu setting, or in the programming software.

Since I don't own a UV5R, I can't address specifics about how to assign 
that button to another function, or say if it is an option for that radio.

As for the usefulness of the alarm, I hope none of us ever have to 
discover whether it is useful or not.

-- 
Mike Duke, K5XU