The cut-off valves are plastic. They are closest to the air cleaner. The one-way (or non-return) valves are metallic. They are closer to the exhaust. Air is supposed to go through your air cleaner, then past the cut-off valve and through the one-way valve, into the exhaust.
Sorry to revive an old thread but sometimes it helps when doing searches when the solution is posted. I found the issue with the buzzer going off at 120km/h... see here: http://www.ferrarichat.com/forum/showpost.php?p=138682972&postcount=247 Apparently these buzzer are standard for every car in the middle-east... DF
LOL, my 1969 Vette had the same thing and I eventually pulled the fuse for the bugger. Interesting factoid about our cars, though.