<PAGE> PAGE 1
000 B000000 06/30/95
000 C000000 319880
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 U
001 A000000 CENTENNIAL TAX EXEMPT TRUST
001 B000000 811-3104
001 C000000 3036713200
002 A000000 3410 SOUTH GALENA STREET
002 B000000 DENVER
002 C000000 CO
002 D010000 80231
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
018 000000 Y
019 A000000 Y
019 B000000 7
019 C000000 CENTENNIAL
020 A000001 MORGAN GUARANTY TRUST CO.
020 B000001 13-5123346
020 C000001 145
020 A000002 CITIBANK, N.A.
020 B000002 13-5266470
020 C000002 65
020 A000003 GOLDMAN, SACHS & CO.
020 B000003 13-5108880
020 C000003 58
020 A000004 NEWMAN & ASSOC., INC.
020 B000004 84-0775574
020 C000004 53
020 A000005 MORGAN STANLEY & CO., INC.
020 B000005 13-2655998
020 C000005 49
020 A000006 SMITH BARNEY, HARRIS UPHAM & CO., INC.
020 B000006 13-3371860
020 C000006 48
020 A000007 SHEARSON LEHMAN BROTHERS, INC.
020 B000007 13-2518466
020 C000007 42
020 A000008 BEAR SECURITIES CORP.
020 B000008 13-3299429
020 C000008 20
020 A000009 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
<PAGE> PAGE 2
020 B000009 13-5674085
020 C000009 19
020 A000010 PAINEWEBBER, INC.
020 B000010 13-2638166
020 C000010 16
021 000000 670
022 A000001 MORGAN GUARANTY TRUST CO.
022 B000001 13-5123346
022 C000001 269678
022 D000001 291305
022 A000002 SMITH BARNEY, HARRIS UPHAM & CO., INC.
022 B000002 13-3371860
022 C000002 185973
022 D000002 194433
022 A000003 GOLDMAN, SACHS & CO.
022 B000003 13-5108880
022 C000003 215534
022 D000003 158054
022 A000004 SHEARSON LEHMAN BROTHERS, INC.
022 B000004 13-2518466
022 C000004 278223
022 D000004 50000
022 A000005 CITIBANK, N.A.
022 B000005 13-5266470
022 C000005 78675
022 D000005 76105
022 A000006 DILLON, READ & CO., INC.
022 B000006 13-1939216
022 C000006 35175
022 D000006 72100
022 A000007 MERRILL LYNCH, PIERCE, FENNER, & SMITH, INC.
022 B000007 13-5674085
022 C000007 47185
022 D000007 56654
022 A000008 NEWMAN & ASSOCIATES, INC.
022 B000008 84-0775574
022 C000008 98223
022 D000008 4555
022 A000009 BEAR SECURITIES CORP.
022 B000009 13-3299429
022 C000009 35255
022 D000009 66514
022 A000010 BANK ONE SECURITIES CORP.
022 B000010 13-1147810
022 C000010 79288
022 D000010 0
023 C000000 1768489
023 D000000 1302170
028 A010000 423540
028 A020000 1679
028 A030000 0
<PAGE> PAGE 3
028 A040000 288476
028 B010000 288588
028 B020000 3022
028 B030000 0
028 B040000 265189
028 C010000 322845
028 C020000 3213
028 C030000 0
028 C040000 291028
028 D010000 293095
028 D020000 4102
028 D030000 0
028 D040000 313662
028 E010000 396647
028 E020000 3321
028 E030000 0
028 E040000 297215
028 F010000 391858
028 F020000 3312
028 F030000 0
028 F040000 358862
028 G010000 2116573
028 G020000 18649
028 G030000 0
028 G040000 1814432
028 H000000 0
029 000000 N
030 A000000 0
030 B000000 0.00
030 C000000 0.00
034 000000 N
035 000000 0
036 B000000 0
042 A000000 0
042 B000000 0
042 C000000 0
042 D000000 100
042 E000000 0
042 F000000 0
042 G000000 0
042 H000000 0
043 000000 2246
044 000000 0
045 000000 Y
046 000000 N
047 000000 Y
048 000000 0.000
048 A010000 250000
048 A020000 0.500
048 B010000 250000
048 B020000 0.475
<PAGE> PAGE 4
048 C010000 250000
048 C020000 0.450
048 D010000 250000
048 D020000 0.425
048 E010000 250000
048 E020000 0.400
048 F010000 250000
048 F020000 0.375
048 G010000 500000
048 G020000 0.350
048 H010000 0
048 H020000 0.000
048 I010000 0
048 I020000 0.000
048 J010000 0
048 J020000 0.000
048 K010000 2000000
048 K020000 0.325
055 A000000 Y
055 B000000 N
056 000000 N
057 000000 N
062 A000000 Y
062 B000000 0.0
062 C000000 0.0
062 D000000 0.0
062 E000000 103.3
062 F000000 0.0
062 G000000 0.0
062 H000000 0.0
062 I000000 0.0
062 J000000 0.0
062 K000000 0.0
062 L000000 0.0
062 M000000 0.0
062 N000000 0.0
062 O000000 0.0
062 P000000 0.0
062 Q000000 0.0
062 R000000 29.0
063 A000000 69
063 B000000 0.0
064 A000000 Y
064 B000000 N
070 A010000 Y
070 A020000 N
070 B010000 N
070 B020000 N
070 C010000 N
070 C020000 N
070 D010000 N
<PAGE> PAGE 5
070 D020000 N
070 E010000 N
070 E020000 N
070 F010000 N
070 F020000 N
070 G010000 N
070 G020000 N
070 H010000 N
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 Y
070 J020000 N
070 K010000 N
070 K020000 N
070 L010000 N
070 L020000 N
070 M010000 N
070 M020000 N
070 N010000 Y
070 N020000 N
070 O010000 Y
070 O020000 N
070 P010000 Y
070 P020000 Y
070 Q010000 N
070 Q020000 N
070 R010000 N
070 R020000 N
071 A000000 0
071 B000000 0
071 C000000 0
071 D000000 0
072 A000000 12
072 B000000 43518
072 C000000 0
072 D000000 0
072 E000000 0
072 F000000 5051
072 G000000 0
072 H000000 0
072 I000000 579
072 J000000 13
072 K000000 38
072 L000000 39
072 M000000 20
072 N000000 166
072 O000000 0
072 P000000 0
072 Q000000 0
072 R000000 24
<PAGE> PAGE 6
072 S000000 18
072 T000000 2246
072 U000000 0
072 V000000 0
072 W000000 51
072 X000000 8245
072 Y000000 0
072 Z000000 35273
072AA000000 92
072BB000000 22
072CC010000 0
072CC020000 0
072DD010000 35284
072DD020000 0
072EE000000 0
073 A010000 0.0300
073 A020000 0.0000
073 B000000 0.0000
073 C000000 0.0000
074 A000000 2478
074 B000000 0
074 C000000 1357731
074 D000000 0
074 E000000 0
074 F000000 0
074 G000000 0
074 H000000 0
074 I000000 0
074 J000000 0
074 K000000 0
074 L000000 46426
074 M000000 280
074 N000000 1406915
074 O000000 71707
074 P000000 24
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 20263
074 S000000 0
074 T000000 1314921
074 U010000 1314899
074 U020000 0
074 V010000 1.00
074 V020000 0.00
074 W000000 1.0012
074 X000000 36157
074 Y000000 0
075 A000000 1127266
075 B000000 0
<PAGE> PAGE 7
076 000000 0.00
077 A000000 Y
077 B000000 Y
077 C000000 N
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
077 Q010000 Y
077 Q020000 N
077 Q030000 N
078 000000 N
080 A000000 ICI MUTUAL INSURANCE CO.
080 C000000 47500
081 A000000 Y
081 B000000 70
082 A000000 N
082 B000000 0
083 A000000 N
083 B000000 0
084 A000000 N
084 B000000 0
085 A000000 Y
085 B000000 N
SIGNATURE GEORGE C. BOWEN
TITLE TREASURER
Independent Auditors' Report
Centennial Tax Exempt Trust
The Board of Trustees and Shareholders of
Centennial Tax Exempt Trust:
<TABLE>
<S> <C>
We have audited the accompanying statement of assets and liabilities,
including the statement of investments, of Centennial Tax Exempt Trust as of
June 30, 1995, the related statement of operations for the year then ended,
the statements of changes in net assets for the years ended June 30, 1995 and
1994, and the financial highlights for the period January 1, 1985 to June 30,
1995. These financial statements and financial highlights are the
responsibility of the Trust's management. Our responsibility is to express an
opinion on these financial statements and financial highlights based on our
audits.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial statements and
financial highlights are free of material misstatement. An audit includes
examining, on a test basis, evidence supporting the amounts and disclosures in
the financial statements. Our procedures included confirmation of securities
owned at June 30, 1995 by correspondence with the custodian and brokers; where
replies were not received from brokers, we performed other auditing
procedures. An audit also includes assessing the accounting principles used
and significant estimates made by management, as well as evaluating the
overall financial statement presentation. We believe that our audits provide
a reasonable basis for our opinion.
In our opinion, such financial statements and financial highlights present
fairly, in all material respects, the financial position of Centennial Tax
Exempt Trust at June 30, 1995, the results of its operations, the changes in
its net assets, and the financial highlights for the respective stated
periods, in conformity with generally accepted accounting principles.
</TABLE>
DELOITTE & TOUCHE LLP
Denver, Colorado
July 24, 1995
<TABLE> <S> <C>
<ARTICLE> 6
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JUN-30-1995
<PERIOD-START> JUL-01-1994
<PERIOD-END> JUN-30-1995
<INVESTMENTS-AT-COST> 1357731247
<INVESTMENTS-AT-VALUE> 1357731247
<RECEIVABLES> 46426543
<ASSETS-OTHER> 279760
<OTHER-ITEMS-ASSETS> 2477832
<TOTAL-ASSETS> 1406915382
<PAYABLE-FOR-SECURITIES> 71707195
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 20287210
<TOTAL-LIABILITIES> 91994405
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1314882597
<SHARES-COMMON-STOCK> 1314898565
<SHARES-COMMON-PRIOR> 1039420786
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 38380
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 1314920977
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 43517674
<OTHER-INCOME> 0
<EXPENSES-NET> 8244889
<NET-INVESTMENT-INCOME> 35272785
<REALIZED-GAINS-CURRENT> 69768
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 35342553
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 35284282
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3776951958
<NUMBER-OF-SHARES-REDEEMED> 3534964703
<SHARES-REINVESTED> 33490524
<NET-CHANGE-IN-ASSETS> 275535154
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 19892
<GROSS-ADVISORY-FEES> 5050991
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 8244889
<AVERAGE-NET-ASSETS> 1127000000
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .03
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> .03
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .73
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
