Subjective memory ratings provide information that is distinct from objective memory performance, and there is a need for reliable and valid metamemory measures. The Multifactorial Memory Questionnaire (MMQ), developed to assess separate dimensions of memory ratings that are applicable to clinical assessment and intervention, includes scales of Contentment (i.e., affect regarding one's memory), Ability (i.e., self-appraisal of one's memory capabilities), and Strategy (i.e., reported frequency of memory strategy use). Among a group of 115 older adults, analyses revealed excellent content validity, factorial validity, test-retest and intratest reliability, convergent and discriminant construct validity, and independence from demographic variables. The psychometric strengths of the MMQ, together with descriptive statistics provided for healthy older adults, make this questionnaire useful in both clinical and research settings.