Introduction/Objective The aim of this study was to identify the elderly who are at increased risk of falling, as well as the risk factors for falls in the general population. Methods This cross sectional study included a random sample of 400 people (164 men and 236 women) with the average age of 75.04 (65-94) years selected from the Register of the Primary Health Center in Niš, Serbia. Socio-demographic questionnaire, the Elderly Fall Screening Test, and the Multi-factor Falls Questionnaire were used. Odds ratio (OR) was evaluated and adjusted for gender, age, marital status, education level, and self-assessment of the health state. Results The risk of falling and risk factors for falls were as follows: age [odds ratio (OR) = 1.129, confidence interval (CI) = 1.067-1.196], health self-assessed as good (OR = 0.365; CI = 0.142-0.938), limitation of activities (