A simple model-the single-configuration perturbation theory-has traditionally been used to explain the main features of the multiexcitonic spectra of quantum dots, where an electron and a hole recombine in the presence of other N(e)-1 electrons and N(h)-1 holes. The model predicts the (N(h),N(e)) values for which such spectra consist of a single line or multiple lines and whether singlet lines of different (N(h),N(e)) values are energetically aligned. Here we use a nonperturbative, correlated approach that shows when such simple rules work and when they fail, thereby establishing a basis for the appropriate use of such rules.