Discussed are the mean-square response exceedance characteristics of a single-tuned system to amplitude modulated noise. The results bear on the accuracy of spectral estimates of nonstationary data, and subsequently, relate directly to the design, analysis, and testing of structural systems in environments as gusts, earthquakes, and ignition transients. For noise correlated as an exponentially damped cosine, the nonstationary response may exceed its stationary value by a factor in excess of two. A time-varying shaping filter explanation is offered for this behavior. For white noise, such exceedances do not occur.