A study was performed to investigate the storage and retrieval dynamics that occur during paired-associate acquisition by means of the storage-retrieval separation technique discussed recently by Chechile & Meyer (1976). Thirty subjects learned an 18-item paired-associate list to a criterion of three perfect trials. In the test phase of each trial, the pairs were randomly tested with either a recall, old or distractor recognition test cue. Analyses of the storage and retrieval functions for both the forward and backward learning curves indicated that paired-associate acquisition is characterized by statistically independent improvements in both storage and retrieval. (Author)