The purpose of this study was to examine the effects of falls experience on cognitive functions and physical activities in community-dwelling patients with chronic hemiparetic stroke. Further, the feasibility of using the Montreal Cognitive Assessment (MoCA) to predict falls in the patients was evaluated. Forty-seven patients with chronic stroke participated in this study. The participants included 25 patients with falls experience (faller group) and 22 patients without falls experience (nonfaller group) in the previous 6 months. The participants were assessed clinically using the MoCA, the Berg Balance Scale, the Dynamic Gait Index (DGI), the Timed Up-and-Go Test, the 10 Meter Walk Test, and the 6 Minute Walk Test. The individuals in the nonfaller group performed significantly better in all clinical measures than those in the faller group. In the nonfaller group, the MoCA was moderately correlated with only two measurements, that is, the 10 Meter Walk Test and the DGI. In the faller group, the MoCA was moderately correlated with four measurements, including the Timed Up-and-Go Test, the 6 Minute Walk Test, the Berg Balance Test, and the DGI. Physical and cognitive functions play a role in falls. Therefore, to decrease the risk of falls among community-dwelling stroke patients, clinicians should consider their physical activities and cognitive functions irrespective of their falls experience.