FIDELITY ADVISOR SERIES VII
NSAR-B, 1996-12-26
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<PAGE>      PAGE  1
000 B000000 10/31/96
000 C000000 0000315700
000 D000000 N
000 E000000 NF
000 F000000 Y
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000 I000000 3.0.a
000 J000000 A
001 A000000 FIDELITY ADVISOR SERIES VII
001 B000000 811-3010
001 C000000 6175638668
002 A000000 82 DEVONSHIRE STREET
002 B000000 BOSTON
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007 A000000 Y
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007 C030300 N
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007 C010700  7
007 C010800  8
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007 C011000 10
020 A000001 MERRILL LYNCH, PIERCE, FENNER, & SMITH, INC.
020 B000001 13-5674085
020 C000001    180
020 A000002 FIDELITY BROKERAGE SERVICE LTD.
020 B000002 00-0000000
020 C000002    170
020 A000003 MORGAN STANLEY & CO., INC.
020 B000003 13-2655998
020 C000003    168
020 A000004 BZW SECURITIES, INC.
020 B000004 13-3551367
020 C000004    145
020 A000005 CAPEL (JAMES) INCORPORATED
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020 C000005    136
020 A000006 GOLDMAN, SACHS & CO.
020 B000006 13-5108880
<PAGE>      PAGE  2
020 C000006    125
020 A000007 CREDIT LYONNAIS SECURITIES (USA) INC.
020 B000007 00-0000000
020 C000007     99
020 A000008 SBC WARBURG INC.
020 B000008 13-3340045
020 C000008     97
020 A000009 UBS SECURITIES, LLC INC.
020 B000009 13-3873456
020 C000009     86
020 A000010 JARDINE FLEMMING
020 B000010 00-0000000
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022 C000003      8717
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022 B000004 04-2778698
022 C000004      8725
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022 C000005      5443
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022 B000006 04-6556593
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022 D000006      2878
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022 C000007      3884
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<PAGE>      PAGE  3
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<PAGE>      PAGE  4
008 B000302 S
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008 D010302 LONDON
008 D050302 ENGLAND
008 D060302 EC3R8LL
008 A000303 FIDELITY MANAGEMENT & RESEARCH (FAR EAST)INC.
008 B000303 S
008 C000303 801-28774
008 D010303 TOKYO
008 D050303 JAPAN
008 A000304 FIDELITY INTERNATIONAL INVESTMENT ADVISORS
008 B000304 S
008 C000304 801-00000
008 D010304 HAMILTON
008 D050304 BERMUDA
008 A000305 FIDELITY INT'L. INV. ADVISORS (U.K.) LTD.
008 B000305 S
008 C000305 801-00000
008 D010305  LONDON
008 D050305 ENGLAND
011 A000301 FIDELITY DISTRIBUTORS CORPORATION
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011 C010301 BOSTON
011 C020301 MA
011 C030301 02109
012 A000301 STATE STREET BANK & TRUST COMPANY
012 B000301 85-5003
012 C010301 BOSTON
012 C020301 MA
012 C030301 02110
012 A000302 FIDELITY INVEST. INSTITUTIONAL OPERATIONS CO.
012 B000302 84-00216
012 C010302 BOSTON
012 C020302 MA
012 C030302 02109
013 A000301 PRICE WATERHOUSE LLP
013 B010301 BOSTON
013 B020301 MA
013 B030301 02109
014 A000301 FIDELITY DISTRIBUTORS CORPORATION
014 B000301 8-8775
014 A000302 FIDELITY BROKERAGE SERVICES, INC.
014 B000302 8-23292
014 A000303 FIDELITY BROKERAGE SERVICES
014 B000303 8-0000
015 A000301 CHASE MANHATTAN BANK, N.A.
015 B000301 C
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015 C020301 NY
015 C030301 10021
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<PAGE>      PAGE  5
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<PAGE>      PAGE  6
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<PAGE>      PAGE  7
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<PAGE>      PAGE  8
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<PAGE>      PAGE  9
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<PAGE>      PAGE  10
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080 B000300 FEDERAL INSURANCE CO.
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SIGNATURE   JOHN H. COSTELLO                             
TITLE       ASST. TREASURER     
 


<TABLE> <S> <C>

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<CIK>     0000315700


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<S>

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0


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0



        



</TABLE>

<TABLE> <S> <C>

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<CIK>     0000315700


<NAME>      Fidelity Advisor Series VII


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        <NUMBER>        32

        <NAME>      Advisor Overseas Portfolio Class B

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<S>

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0



        



</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
 

<CIK>     0000315700


<NAME>      Fidelity Advisor Series VII


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        <NUMBER>        33

        <NAME>      Advisor Overseas Portfolio Institutional Class

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<S>

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0



        



</TABLE>

<TABLE> <S> <C>

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<CIK>     0000315700


<NAME>      Fidelity Advisor Series VII


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<S>

<C>

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15


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<DIVIDEND-INCOME>

22,331


<INTEREST-INCOME>

7,191


<OTHER-INCOME>

(2,519)


<EXPENSES-NET>

15,011


<NET-INVESTMENT-INCOME>

11,992


<REALIZED-GAINS-CURRENT>

48,710


<APPREC-INCREASE-CURRENT>

25,789


<NET-CHANGE-FROM-OPS>

86,491


<EQUALIZATION>

0


<DISTRIBUTIONS-OF-INCOME>

4,861


<DISTRIBUTIONS-OF-GAINS>

540


<DISTRIBUTIONS-OTHER>

0


<NUMBER-OF-SHARES-SOLD>

30,743


<NUMBER-OF-SHARES-REDEEMED>

19,351


<SHARES-REINVESTED>

351


<NET-CHANGE-IN-ASSETS>

284,146


<ACCUMULATED-NII-PRIOR>

4,207


<ACCUMULATED-GAINS-PRIOR>

297


<OVERDISTRIB-NII-PRIOR>

0


<OVERDIST-NET-GAINS-PRIOR>

0


<GROSS-ADVISORY-FEES>

6,353


<INTEREST-EXPENSE>

0


<GROSS-EXPENSE>

15,046


<AVERAGE-NET-ASSETS>

913,393


<PER-SHARE-NAV-BEGIN>

13.920


<PER-SHARE-NII>

 .190


<PER-SHARE-GAIN-APPREC>

1.290


<PER-SHARE-DIVIDEND>

 .090


<PER-SHARE-DISTRIBUTIONS>

 .010


<RETURNS-OF-CAPITAL>

0


<PER-SHARE-NAV-END>

15.300


<EXPENSE-RATIO>

1.610


<AVG-DEBT-OUTSTANDING>

0


<AVG-DEBT-PER-SHARE>

0



        



</TABLE>


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