Arcanist: "School Understanding" Exploit on a Wizard

[Timrod]

I'm currently in the process of making an exploiter wizard in PFS, and I have a question about something.

As I understand it, if you are an Arcanist and take the "School Understanding" exploit, you get any one school ability that is usable 3 + Int Modifier times per day as if you were a Level 1 wizard, and then need to use Arcane Reservoir points to treat your Arcanist level as your Wizard level if you want to use it to greater effect.

Now, here's my question.

Let's say you're taking School Understanding as an exploiter wizard and not as an arcanist. Obviously, you actually have levels in wizard. Do you still get treated as an L1 wizard without spending the Arcane Reservoir point, or is that a moot point if you are already a wizard with a level higher than 1?

The way it's worded, I would guess that you would get the full benefit (since it's kind of illogical that you would be treated as a first-level wizard despite having actual wizard levels and have no arcanist levels to convert), but I'm not really sure.

[UnArcaneElection]

^My understanding is that it actually works like you think before your last sentence. Exploiter Wizard replaces Arcane School, so even though you are a Wizard, you have no Arcane School and therefore no levels in a class granting Arcane School, and since the archetype explicitly lets you take Arcane Exploits like an Arcanist of the same level, this Arcane Exploit works just like it would for an Arcanist. This would include progressing the matching Arcane School from another class -- like for instance, if you dipped School Arcanist (not saying this would be a good idea, but it would be legal).