The hood warning light stays on at all times and when I lock the car the alarm goes off 5 secinds later..what do I do to fix this..?

Common problems are the interior motion sensor and the hood switch. Try disabling the interior sensor by pressing the lock button on the key twice and see if it helps.

It can be any of the car door not got properly locked or the door is locked but the switch is not sensing the door locked.Open and close each door again properly.
Or else its problem with any of switch wiring getting in contact with alarm wiring causing it to happen.And last thing alarm connections needs to be inspected.Its getting short somewhere in between.

There are few helplinks with solutions,to troubleshoot these types of problems.I suggest going through these links.
Click the link below:------Volvo car alarm keeps going off for no reason http://technoanswers.blogspot.in/2012/07/volvo-car-alarm-keeps-going-off-for-no.html
------------------ Alarm keeps going OFF http://technoanswers.blogspot.in/2012/07/alarm-keeps-going-off.html
--------------2009 Toyota Camry: Hood Switch causing Alarm to go OFF? http://whatisbyme.blogspot.in/2012/04/2009-toyota-camry-hood-switch-causing.html
----------------Ford Pickup Alarm will not disengage? http://technoanswers.blogspot.com/2012/01/ford-pickup-alarm-will-not-disengage.html
------------Mitsubishi Diamante: Factory Security Alarm will not go Off http://www.howtorepairguide.com/2012/11/mitsubishi-diamante-factory-security.html
------------Toyota Avalon Factory Alarm will go off? http://repairhelpcenter.blogspot.com/2012/01/toyota-avalon-factory-alarm-will-go-off.html
----------Chevrolet Tahoe Hood open warning on dash and alarm sounds? http://schematicsdiagram.blogspot.com/2011/12/chevrolet-tahoe-hood-open-warning-on.html
-----------These details will help.Thanks.

You can check this website, you find there fuse box and diagram for Oldsmobile Cutlass (1995)

Oldsmobile Cutlass Supreme 1995 fuse box diagram Auto Genius

hood sensor.

http://www.bimmerfest.com/forums/showthread.php?t=537598

Your car thinks a door is open , thus the light stays on. When you lock the doors with the remote it activates the alarm system. 10 sec later it senses that the a door is open and alarm sounds.
I have a 99 passat as well and I just went outside to see where the switch on the door is. Can't see one anywhere , it must be inside the door (part of the latch mechanism). I tried to arm the alarm system by locking the doors with the remote while the door was still open , sure enough the alarm went off about 15 secs later.

sounds like the hood alarm switch is not making proper contact with the hood, the alarm will not set properly, check the hood alignment

this happened to me and it drove me crazy for a few days. check that the hood is closed tightly. its held shut for the most part by a peice of metal with a screw on one side, a spring around it, and a nub looking shape that fits into the locking device above the bumper. When i finally checked my hood, the entire bit of metal had come unscrewed and was stuck in the locking device, leaving my hood held shut only by the safety clamp. remove it from the locking part and screw it back into the hood, closing it a few times to find the right distance to screw it in. lock your car and hear that chirp, that should fix it

if thats not the case then check that all of the doors are closed nice and tight... if the doors lock but the audible alarm is not armed then that is most likely the case

If the red light stays on when you lock the vehicle, this means there is an electrical issue with the system. Might need further dealership diagnosis.

Although the most common cause of the frequent false alarms is the hood contact switch, located in the left rear of the engine compartment, near the micro filter housing. About a 20$ part.

Your Central locking wire is short from any one door side. Please check it properly.