The James Webb Space Telescope (JWST) is set to revolutionize our understanding of universe. The future is particularly bright for exoplanetary astronomy, with the characterization of new worlds one of the primary goals of this extremely exciting telescope. Although each of the four instruments have observing modes tailored to time-series observations of exoplanets, the Single Object Slitless Spectroscopy (SOSS) mode of the NIRISS (Near-Infrared Imager and Slitless Spectrograph) instrument promises to be one of the workhorse observing modes; enabling unprecedented coverage of prominent water absorption bands as well as other critical constituents of exoplanet atmospheres, while also providing the bluest wavelength coverage of any instrument aboard the JWST. Along with these unique possibilities, the SOSS mode also presents astronomers with unique challenges – namely the contamination of the first two diffraction orders of the cross-dispersed spectrum on the SOSS detector. Recently Darveau-Bernier et al. (2022) developed the ATOCA algorithm to decontaminate the SOSS detector, allowing for extraction of the underlying spectrum from both the first and second diffraction orders. ATOCA models each pixel on the detector based on, amongst others, as assumption of the underlying spatial profiles of the first and second order traces. Here, we will present the effects on retrieved planetary parameters of a variety of assumptions during the reductions and 1d spectrum extraction of SOSS data. We address amongst other things, the effects of 1/f noise, as well as quantify the biases introduced by incorrect assumptions of the spectral trace profiles.