An exercise and flexibility assessing apparatus includes a handle having a flexible member opening and a latch opening formed therein. A shaft support is mounted in the handle. The shaft support has a first wall and a second wall, distal from the first wall. A spool is rotatably mounted between the first wall and the second wall. A flexible member with indicia for assessment has a first end fixedly connected to the spool and a second end extending outwardly from the handle through the flexible member opening. A latch mechanism has an activating portion that extends outwardly of the spool toward the latch opening and a latching portion pivotally engaging the first wall. The latching portion is movable between a first position wherein the spool is rotatable with respect to the handle and a second position wherein the spool is fixed with respect to the handle.