Since I made another mistake in part 3 regarding cutting video clips, I explain the difference between cutting and splitting video clips. I'll also cover Set Start Point and Set End Point.
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In Windows Live Movie Maker, cutting is referred to as trimming. When you trim, this allows you to trim the video to hide or actually cut out any unwanted parts of the video.

Splitting allows you to split the selected video into two parts at a current point. In other words, you can turn one video, (or split),into two parts...or three, or however many you need.

When choosing Set Start Point, this allows you to trim the selected video so it starts at a current point.

When choosing Set End Point, this allows you to trim the selected video so it ends at a current point.

Of course, I made more mistakes in this video as well by saying to left click, when I meant to say Right click.

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