AFBA FIVE STAR FUND INC
NSAR-B, 2000-05-15
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<PAGE>      PAGE  1
000 B000000 03/31/2000
000 C000000 0001030802
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 6.1
000 J000000 U
001 A000000 AFBA FIVE STAR FUND, INC.
001 B000000 811-08035
001 C000000 8167515900
002 A000000 700 KARNES BLVD
002 B000000 KANSAS CITY
002 C000000 MO
002 D010000 64108
002 D020000 3306
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  4
007 C010100  1
007 C020100 AFBA FIVE STAR BALANCED FUND
007 C030100 N
007 C010200  2
007 C020200 AFBA FIVE STAR EQUITY FUND
007 C030200 N
007 C010300  3
007 C020300 AFBA FIVE STAR HIGH YIELD FUND
007 C030300 N
007 C010400  4
007 C020400 AFBA FIVE STAR USA GLOBAL FUND
007 C030400 N
007 C010500  5
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
008 A00AA01 AFBA INVESTMENT MANAGEMENT COMPANY
008 B00AA01 A
008 C00AA01 801-54247
008 D01AA01 ALEXANDRIA
008 D02AA01 VA
008 D03AA01 22314
008 A00AA02 KORNITZER CAPITAL MANAGEMENT INC.
008 B00AA02 S
008 C00AA02 801-34933
008 D01AA02 SHAWNEE MISSION
<PAGE>      PAGE  2
008 D02AA02 KS
008 D03AA02 66202
020 A000001 ROBERTSON, STEPHENS
020 C000001      8
020 A000002 CANTOR FITZGERALD
020 C000002      8
020 A000003 BRIDGE TRADING
020 C000003      5
020 A000004 WACHOVIA SECURITIES
020 C000004      3
020 A000005 FIRST BOSTON
020 C000005      1
020 A000006 BAUM, GEORGE K
020 C000006      1
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022 A000003 LEHMAN BROTHERS
022 C000003        86
022 D000003      1016
022 A000004 CANTOR FITZGERALD & COMPANY
022 C000004       718
022 D000004       167
022 A000005 CREDIT SUISSE FIRST BOSTON CORP
022 C000005       580
022 D000005       138
022 A000006 DONALDSON LUFKIN
022 C000006       258
022 D000006        50
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<PAGE>      PAGE  3
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<PAGE>      PAGE  9
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<PAGE>      PAGE  10
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<PAGE>      PAGE  11
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SIGNATURE   MARTIN A. CRAMER
TITLE       VICE PRESIDENT



<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0001030802
<NAME> AFBA FIVE STAR FUND, INC.
<SERIES>
   <NUMBER> 1
   <NAME> AFBA FIVE STAR BALANCED FUND

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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0001030802
<NAME> AFBA FIVE STAR FUNDS, INC.
<SERIES>
   <NUMBER> 2
   <NAME> AFBA FIVE STAR EQUITY FUND

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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0001030802
<NAME> AFBA FIVE STAR FUND, INC.
<SERIES>
   <NUMBER> 3
   <NAME> AFBA FIVE STAR HIGH YIELD FUND

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<NAME> AFBA FIVE STAR FUND, INC.
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   <NAME> AFBA FIVE STAR USA GLOBAL FUND

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