The relationships among understanding, stored information, and learning from prose materials were investigated using varying presentation rates. Ten prose passages were presented visually (n = 54) and auditorily (n = 54) to college students at rates between 75 and 450 words per minute. Degree of understanding of each prose passage was rated subjectively prior to taking one of three types of objective tests-Chunked, 20%-Cloze, and Revised Cloze. The two types of cloze tests were relatively insensitive to the changes in presentation rate. The Chunked test was highly sensitive to changes in rate, but the most reliable and sensitive measure of the effect of rate changes was the understanding measure. The results suggest that (a) understanding can be defined in terms of information stored and (b) traditional learning concepts and measures are inappropriate for investigating the important effects involved in reading and "auding" prose.