audiobook bookmarking and loading on memory card

What is the nature of the bookmark?  Is it like the Fuze and Clip+ where it automatically highlights the last thing you were listening to in an Podcast or Audiobook “album”, or is it like the Fuze+ where you actunally have to know which track you left off on, and only then will it allow you to resume?  Or perhaps there is just a list of bookmarks you can choose?