I have the KM3V, vdrive. The manual states the "fully inserted" sentence and the next sentence states to check the level of the clutch
without screwing in the dip stick.
I have the same dipstick shown here, with only the one mark near the tip. Using the drain plug
then filling with the right amount of oil
results in a level indicated on this single
The reason for this unconventional dip stick is because it serves as the breather as well. In operation the level is below the hollow tubular stick allowing it to breath up to the small hole near the cap. But I have yet to try to figure out how it gets from there to outside the case. But it's what the manual says.