this is certainly standard on all aircraft types.
If you scroll down a bit on this page ...
... you'll find a priority list regarding which aural sound has the priority when multiple alert conditions exist simultaneously. They won't sound simultaneously.
Does anybody know if the following sounds need a priority ID as well?
Beeper (amber caution)
Siren (red config warning or cabin depress)
Wailer (red A/P disco warning)
The last three sounds run in continuous loops. Perhaps they can be run simultaneously on the real aircraft? At the moment, in PSX, when I run multiple sounds, like fire bell and wailer for example, I can clearly identify fire bell and wailer. No big confusion, especially because they contain no voice, no text, just simple tone patterns.
So, perhaps, these voice-less sounds have no priority logic?