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Module 1 covers Transcription Rules and Guidelines for consistent transcripts, especially when no specific requirements from the client are provided. When transcribing, two key styles are defined: clean verbatim and full verbatim. Clean verbatim excludes irrelevant speech elements like false starts, verbal tics, and stutters, but does not paraphrase sentences. Conversely, full verbatim includes all speech nuances, such as filler words (e.g., "you know," "um," "like") that signify pauses or hesitations. It's crucial to retain necessary words that complete sentences and avoid omitting pertinent information while identifying fillers.