The simple model proposed earlier to describe the theological properties of complex fluids is used to calculate (a) the extensional viscosity, (b) the hysteresis loops, and (c) the complex viscosity. It has been found that the theological properties predicted by the model agree with experimental observations. It is shown that for some viscoelastic fluids the extensional viscosity is always finite and for some other fluids the extensional viscosity tends to infinity at finite extensional rate. In the latter case, steady flow is not attainable. The shape of the hysteresis loops depends on the maximum shear-rate. It also depends on the material properties. In a small amplitude oscillatory flow, our model reduces to a linear viscoelastic fluid.