A generalized fault model. For one aspect, extracted faults may be modeled using a fault model in which at least one of the following is specified: multiple fault atoms, two or more impact conditions for a first set of excitation conditions, a relative priority of fault atoms within a set of fault atoms used to model the at least one extracted fault, a dynamic fault delay, and excitation conditions including at least a first mandatory excitation condition and at least a second optional excitation condition.