This study would investigate the characteristics of elderly women’s responses to the Star-Wave Test(SWT) according to whether they have dementia to check if it can be applied as an inspection tool to figure out the differences in psychological characteristics between elderly women with dementia and general elderly women. The subjects of the study were 258 elderly women over 65, residing in A City, including 53 elderly women who were diagnosed with dementia and 205 general elderly women. As inspection tools, SWT and Korean Mini-Mental State Examination(K-MMSE) were used, and for an analysis of data, cross-tabulation was conducted, using SPSS 19.0. The results of the study are summarized as follows. First, for the response characteristics of formal analysis, there were significant differences in ‘style of painting , vertical structure , horizontal structure , ‘property of all lines’, ‘overall spatial structure’, and ‘erasure.’ Second, for the response characteristics of content analysis, there were significant differences in ‘presence of stars, ‘the number of stars’, ‘stability of star drawing’, ‘connectivity’, ‘moon’, ‘cloud , fish , and ship.’ Through the above research results, this study suggested the applicability of the SWT as an inspection tool to assess the differences in psychological characteristics according to whether the elderly women have dementia.