FTT, as it applies to reasoning, is adapted from dual process models of human cognition. It differs from the traditional dual process model in that it makes a distinction between impulsivity and intuition—which are combined in System 1 according to traditional dual process theories—and then makes the claim that expertise and advanced cognition relies on intuition.[57] The distinction between intuition and analysis depends on what kind of representation is used to process information. The mental representations described by FTT are categorized as either gist or verbatim representations: Gist representations are bottom-line understandings of the meaning of information or experience, and are used in intuitive gist processing. Verbatim representations are the precise and detailed representations of the exact information or experience, and are used in analytic verbatim processing.

When people try to remember past events (e.g., a birthday party or the last dinner), they often commit two types of errors: errors of omission and errors of commission.