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The Complete Word option fills in the rest of your function or variable name for you. This can save you from having to repeatedly type long names.
To complete the current word
IntelliSense completes the name for you. If what you've typed cannot be disambiguated, the Members list appears, with the nearest matching word highlighted.
Note Pressing CTRL+SPACE on an empty line, or outside of recognizable scope (for instance, just before a function name) opens the Members list populated with globals.