Not sure on the 550 - on my 75 400, the running lights are only the front two. The rear two are only turn signals. Plus, the front running lights are only on in low beam position. In high beam - they go off. This is for power savings. I suspect the 550 is the same since they both have limited alternator power.
So - turn the key on - it is
High beam, tail light (dim filiment), instrument lights.
or
Low beam, front running lights, tail light, instrument lights.
Bob