When you have set the Reminder Options to show daily alarms, you will see a screen similar to the following:
This screen will display the events which are within their warning days from today. This notification will be displayed every day, as long as there is an event which is near. Some more discussion of when notification alarms can be found under Set Alarm Dialog, with a specific example there as well. If the "Play Alarm Sound" check box of the Reminder Options is checked the standard PalmPilot alarm sound will be played as well.