We investigate the relation between speed and accuracy within problem solving in its simplest non-trivial form. We consider tests with only two items and code the item responses in two binary variables: one indicating the response accuracy, and one indicating the response speed. Despite being a very basic setup, it enables us to study item pairs stemming from a broad range of domains such as basic arithmetic, first language learning, intelligence-related problems, and chess, with large numbers of observations for every pair of problems under consideration. We carry out a survey over a large number of such item pairs and compare three types of psychometric accuracy-response time models present in the literature: two ‘one-process’ models, the first of which models accuracy and response time as conditionally independent and the second of which models accuracy and response time as conditionally dependent, and a ‘two-process’ model which models accuracy contingent on response time. We find that the data clearly violates the restrictions imposed by both one-process models and requires additional complexity which is parsimoniously provided by the two-process model. We supplement our survey with an analysis of the erroneous responses for an example item pair and demonstrate that there are very significant differences between the types of errors in fast and slow responses.