Select portion of video to insert to timeline

I’m new to this software. I’ve made videos with iMovie and several other software packages.
My question is: Is it possible to select portions of a video in the playlist to insert in the timeline?
I have two very long videos, around 1h 15m each (High School plays), and I want to insert parts on one on to the other. Placing the two videos in different video tracks then clipping portions is very unwieldy. I get lost with those big lengths.
I hope there is a way. I like this software, so far.

This step is incorrect, and if you have a timeline clip selected, depending on UI state, it will likely overwrite whatever was in source player. ‘C’ (or Ctrl+C) copies from Timeline to Source.

This is correct.

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