This paper reports the simultaneous generation of multiple fundamental ultrasonic guided wave modes L(0,1), T(0,1), and F(1,1) on a thin wire-like waveguide (SS-308L) and its interactions with liquid loading in different attenuation dispersion regimes. An application towards liquid level measurements using these dispersion effects was also demonstrated. The finite element method (FEM) was used to understand the mode behavior and their dispersion effects at different operating frequencies and subsequently validated with experiments. In addition, the ideal configuration for the simultaneous generation of at least two modes (L(0,1), T(0,1), or F(1,1)) is reported. These modes were transmitted/received simultaneously on the waveguide by an ultrasonic shear wave transducer aligned at 0◦/45◦/90◦ to the waveguide axis. Level measurement experiments were performed in deionized water and the flexural mode F(1,1) was observed to have distinct dispersion effects at various frequency ranges (i.e., >250 kHz, >500 kHz, and >1000 kHz). The shift in time of flight (TOF) and the central frequency of F(1,1) was continuously measured/monitored and their attenuation dispersion effects were correlated to the liquid level measurements at these three operating regimes. The behavior of ultrasonic guided wave mode F(1,1) when embedded with fluid at three distinct frequency ranges (i.e., >250 kHz, >500 kHz, and >1000 kHz) were studied and the use of low frequency Regime-I (250 kHz) for high range of liquid level measurements and the Regime-II (500 kHz) for low range of liquid level measurements using the F(1,1) mode with high sensitivity is reported. © 2021 by the authors. Licensee MDPI, Basel, Switzerland.