The present research was initiated to study listeners’ status and different shades of listener’s mood in relation to conversation memory. The main objectives of the study were (1) to investigate the influence of listener’s status on conversation memory, i.e. to what extent listener’s status facilitate or inhibit conversation memory; (2) to investigate the effect of listener’s mood on conversation memory, i.e. to what extent elated, depressed, and neutral mood of the listener facilitate or inhibit the conversation memory; and (3) to examine the various interactional effects’ of independent variables i.e. listener’s status, and mood on our dependent variable i.e. conversation memory. Socio-Economic Status Scale developed by O.P. Aggarwal, Bhasin, Sharma, Chhabra, K. Aggarwal, & Rajoura (2005) was employed to determine the Socio-Economic Status of the subjects. The scale consisted of 22 items, aadministered on a large numbers of Post Graduate female Students from faculty of Social Science A.M.U, Aligarh. On the basis of their score on SESS; 600 subjects were selected, 300 subject were having high socio-economic status and remaining 300 were having low socio-economic status. Those subjects who obtained 61 and above score were consider as high-economic status and those who obtained 31 to 60 score were consider as low socio-economic status. There were 100 subjects in each group. Mood was induced by Modified Velten Mood Induction Technique (Sinclair, Mark, Enzle, Borkovec, & Cumbleton, 1994) and Musical Mood Induction Technique (Hilal, 2014). 2X3 factorial design was used in the present study.It was found that conversation memory is better in low listener status than conversation memory in high listener status. In other words, subject having low listener status better remembered than subject having high listener status. Subjects with elated mood, depressed mood and neutral mood do differ with respect to conversation memory.