A review of the RELAP5/MOD2 computer code has been performed to assess the basis for the models and correlations comprising the code. The review has included verification of the original data base, including thermodynamic, thermal-hydraulic, and geothermal conditions; simplifying assumptions in implementation or application; and accuracy of implementation compared to documented descriptions of each of the models. An effort has been made to provide the reader with an understanding of what is in the code and why it is there and to provide enough information that an analyst can assess the impact of the correlation or model on the ability of the code to represent the physics of a reactor transient. Where assessment of the implemented versions of the models or correlations has been accomplished and published, the assessment results have been included.