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Preliminary results of the dynamic analysis of a two-fluid molten-salt breeder reactor (MSBR) system are presented. Based on an earlier work on the preliminary dynamic model of the concept, the model presented here is nonlinear and has been revised to accurately reflect the design exemplified in ORNL-4528. A brief overview of the model followed by results from simulations performed to validate the model is presented. Simulations illustrate stable behavior of the reactor dynamics and temperature feedback effects to reactivity excursions. Stable and smooth changes at various nodal temperatures are also observed. Control strategies for molten-salt reactor operation are discussed, followed by an illustration of the open-loop load-following capability of the molten-salt breeder reactor system. It is observed that the molten-salt breeder reactor system exhibits “self-regulating” behavior, minimizing the need for external controller action for load-following maneuvers.