In this study the relative influence of age, gender, locus of control, preferred acculturation strategy, perceived majority members’ attitude, and social support on life satisfaction and competence of Bosnian refugees was examined. Hundred and six Bosnians living temporarily in Norway completed a questionnaire. The results showed that persons with a higher internal locus of control had a higher life satisfaction and higher feelings of competence. The acculturation option assimilation was related to the highest life satisfaction, while the integration option was related to the highest feelings of competence. The more positive reactions the respondents received from Norwegians, the higher their life satisfaction and the higher their feelings of competence. Older refugees reported the highest feelings of competence.