It's a multi turn potentiometer. The install instructions were something about measuring ohms before install. This gets the sending unit in a close locations before mouning. You tweak it in per your trim guage after it's mounted. Ohms measurment was real low so you will want to use a digital meter.
I have all the factory king cobra owners manual, parts book, shop manual, etc. If you need info from them send me a pm. I have to replace my sending unit in the near future. Still works but it's a bit flakey from time to time. The Merc outdrives go through these units also.
Glad the Volvo SX part worked for you. Keep track of that Volvo SX drive. Lots of simularity between it and the OMC King Cobra - the real one with the hump on top.
Tuco: When you have to shoot, shoot, don't talk.