What do these Intel Memory Specifications mean?

I am looking at these memory specifications for an Intel® Core™ i7-4790K Processor.

Specifically I am interested in the following which have these tool-tips. The first seems reasonably clear, but the second does not.

Max Memory Size

Max memory size refers to the maximum memory capacity (in GB) supported by the processor.

Memory Types

Intel® processors come in four different types: a Single Channel, Dual Channel, Triple Channel, and Flex Mode.

Am I correct in the following?

1. Max Memory Size is the maximum amount of RAM this CPU will work with. E.g. I could plug in 64GB RAM, but only 32GB will be used.
2. Memory Type is the supported RAM configurations, where "1333/1600" is the supported MHz of the RAM. E.g. attaching some DDR3 2400MHz won't provide any additional performance above 1600MHz.

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