There is something a bit odd going on with the model number. A 92502 has a VacuJet carburetor, but your carburetor is a PulsaJet. It sounds as if someone has swapped the tank-and-carburetor assembly for the one from a 92902 or 92908. It isn't any problem, they swap over almost perfectly (the breather pipe fitting that goes on the carburetor is not an ideal fit, but it's pretty good). However if a previous tenant has made that swap s/he may have made others. Are you sure it says 92502, not 92902?
Because your engine was built after the beginning of 1982, it will have Magnetron electronic ignition. This is a good thing - no points to deteriorate or need adjustment, no worries about oil getting into the points compartment, and no need to pull the flywheel off from time to time to get a look at the points. The Magnetrons are very reliable, and can be replaced in just a few minutes anyway.
