This paper is a mathematical evaluation of the core conductor model where its three dimensionality is taken into account. The problem considered is that of a single, active, unmyelinated nerve fiber situated in an extensive, homogeneous, conducting medium. Expressions for the various core conductor parameters have been derived in a mathematically rigorous manner according to the principles of electromagnetic theory. The purpose of employing mathematical rigor in this study is to bring to light the inherent assumptions of the one dimensional core conductor model, providing a method of evaluating the accuracy of this linear model. Based on the use of synthetic squid axon data, the conclusion of this study is that the linear core conductor model is a good approximation for internal but not external parameters.