<PAGE> PAGE 1
000 B000000 07/31/97
000 C000000 0000320595
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 FBL MONEY MARKET FUND, INC.
001 B000000 811-3121
001 C000000 5152255400
002 A000000 5400 UNIVERSITY AVENUE
002 B000000 WEST DES MOINES
002 C000000 IA
002 D010000 50266
002 D020000 5997
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
007 C010100 1
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A000001 FBL INVESTMENT ADVISORY SERVICES, INC.
008 B000001 A
008 C000001 801-7655
008 D010001 WEST DES MOINES
008 D020001 IA
008 D030001 50266
008 D040001 5997
022 A000001 HSBC SECURITIES, INC.
022 B000001 13-2650272
022 C000001 85857
022 D000001 3298
022 A000002 NORWEST
022 B000002 42-0331193
022 C000002 10918
022 D000002 0
022 A000003 GENERAL ELECTRIC CREDIT CORP.
022 B000003 13-1500700
022 C000003 7426
<PAGE> PAGE 2
022 D000003 0
022 A000004 NORWEST FINANCIAL
022 B000004 42-1186565
022 C000004 5350
022 D000004 1301
022 A000005 MERRILL LYNCH CAPITAL MARKETS
022 B000005 13-2761776
022 C000005 5556
022 D000005 999
022 A000006 JOHN DEERE CAPITAL CORP.
022 B000006 36-2386361
022 C000006 5375
022 D000006 1001
022 A000007 WELLS FARGO
022 B000007 94-1347393
022 C000007 6008
022 D000007 0
022 A000008 FORD MOTOR CREDIT CORP.
022 B000008 38-1612444
022 C000008 5700
022 D000008 0
022 A000009 CANTOR FITZGERALD SECURITIES CORP.
022 B000009 13-2698893
022 C000009 5001
022 D000009 0
022 A000010 AMERICAN GENERAL FINANCE CORP.
022 B000010 35-0416090
022 C000010 5000
022 D000010 0
023 C000000 150020
023 D000000 9096
028 A010000 7020
028 A020000 72
028 A030000 0
028 A040000 7010
028 B010000 6528
028 B020000 79
028 B030000 0
028 B040000 6144
028 C010000 6328
028 C020000 78
028 C030000 0
028 C040000 7288
028 D010000 8129
028 D020000 79
028 D030000 0
028 D040000 6152
028 E010000 6178
028 E020000 82
028 E030000 0
028 E040000 8638
<PAGE> PAGE 3
028 F010000 5955
028 F020000 79
028 F030000 0
028 F040000 6320
028 G010000 40138
028 G020000 469
028 G030000 0
028 G040000 41552
028 H000000 0
045 000000 Y
046 000000 N
047 000000 Y
048 000000 0.250
048 A010000 0
048 A020000 0.000
048 B010000 0
048 B020000 0.000
048 C010000 0
048 C020000 0.000
048 D010000 0
048 D020000 0.000
048 E010000 0
048 E020000 0.000
048 F010000 0
048 F020000 0.000
048 G010000 0
048 G020000 0.000
048 H010000 0
048 H020000 0.000
048 I010000 0
048 I020000 0.000
048 J010000 0
048 J020000 0.000
048 K010000 0
048 K020000 0.000
049 000000 N
050 000000 N
051 000000 N
052 000000 N
053 A000000 N
055 A000000 N
055 B000000 N
056 000000 Y
057 000000 N
062 A000000 Y
062 B000000 0.0
062 C000000 72.5
062 D000000 0.0
062 E000000 0.0
062 F000000 0.0
062 G000000 0.0
<PAGE> PAGE 4
062 H000000 0.0
062 I000000 24.1
062 J000000 0.0
062 K000000 0.0
062 L000000 3.4
062 M000000 0.0
062 N000000 0.0
062 O000000 0.0
062 P000000 0.0
062 Q000000 0.0
062 R000000 0.0
063 A000000 31
063 B000000 0.0
064 A000000 N
070 A010000 Y
070 A020000 Y
070 B010000 N
070 B020000 N
070 C010000 N
070 C020000 N
070 D010000 N
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 N
070 J020000 N
070 K010000 N
070 K020000 N
070 L010000 N
070 L020000 N
070 M010000 N
070 M020000 N
070 N010000 N
070 N020000 N
070 O010000 N
070 O020000 N
070 P010000 N
070 P020000 N
070 Q010000 N
070 Q020000 N
070 R010000 N
070 R020000 N
071 A000000 0
<PAGE> PAGE 5
071 B000000 0
071 C000000 0
071 D000000 0
072 A000000 12
072 B000000 1312
072 C000000 0
072 D000000 0
072 E000000 0
072 F000000 81
072 G000000 0
072 H000000 0
072 I000000 131
072 J000000 58
072 K000000 0
072 L000000 41
072 M000000 6
072 N000000 21
072 O000000 0
072 P000000 0
072 Q000000 12
072 R000000 9
072 S000000 19
072 T000000 0
072 U000000 0
072 V000000 0
072 W000000 -1
072 X000000 377
072 Y000000 11
072 Z000000 946
072AA000000 0
072BB000000 0
072CC010000 0
072CC020000 0
072DD010000 946
072DD020000 0
072EE000000 0
073 A010000 0.0395
073 A020000 0.0000
073 B000000 0.0000
073 C000000 0.0000
074 A000000 790
074 B000000 0
074 C000000 22267
074 D000000 0
074 E000000 0
074 F000000 0
074 G000000 0
074 H000000 0
074 I000000 0
074 J000000 0
074 K000000 0
<PAGE> PAGE 6
074 L000000 35
074 M000000 0
074 N000000 23092
074 O000000 0
074 P000000 13
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 25
074 S000000 0
074 T000000 23054
074 U010000 23054
074 U020000 0
074 V010000 1.00
074 V020000 0.00
074 W000000 1.0000
074 X000000 4072
074 Y000000 0
075 A000000 24393
075 B000000 0
076 000000 0.00
077 A000000 Y
077 B000000 Y
080 A000000 CHUBB GROUP OF INSURANCE COMPANIES
080 C000000 1425
081 A000000 Y
081 B000000 12
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 KRISTI ROJOHN
TITLE ASSISTANT SECRETARY
<TABLE> <S> <C>
<ARTICLE> 6
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JUL-31-1997
<PERIOD-END> JUL-31-1997
<INVESTMENTS-AT-COST> 22267186
<INVESTMENTS-AT-VALUE> 22267186
<RECEIVABLES> 34371
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 790451
<TOTAL-ASSETS> 23092008
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 38280
<TOTAL-LIABILITIES> 38280
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 23053728
<SHARES-COMMON-STOCK> 23053728
<SHARES-COMMON-PRIOR> 24573946
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 23053728
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1311838
<OTHER-INCOME> 0
<EXPENSES-NET> 365897
<NET-INVESTMENT-INCOME> 945941
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 0
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 945941
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 80558632
<NUMBER-OF-SHARES-REDEEMED> 83018115
<SHARES-REINVESTED> 939265
<NET-CHANGE-IN-ASSETS> (1520218)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 81111
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 376487
<AVERAGE-NET-ASSETS> 24282055
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.04
<PER-SHARE-GAIN-APPREC> 0.00
<PER-SHARE-DIVIDEND> 0.04
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 1.51
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
Ernst & Young LLP
Suite 3400
801 Grand Avenue
Des Moines, Iowa 50309-2764
Phone: 515 243 2727
Report of Independent Auditors on Internal Control Structure
The Board of Directors and Shareholders
FBL Money Market Fund, Inc.
In planning and performing our audit of the financial statements of
FBL Money Market Fund, Inc. for the year ended July 31, 1997, we
considered its internal control structure, including control activities
for safeguarding securities, in order to determine our auditing
procedures for the purpose of expressing our opinion on the
financial statements and to comply with the requirements of Form
N-SAR, not to provide assurance on the internal control.
The management of FBL Money Market Fund, Inc. is responsible for
establishing and maintaining internal control. In
fulfilling this responsibility, estimates and judgments by
management are required to assess the expected benefits and related
costs of controls. Generally, controls that are relevant to an
audit pertain to the entity's objective of preparing financial
statements for external purposes that are fairly presented in
conformity with generally accepted
accounting principles. Those controls include the safeguarding of
assets against unauthorized acquisition, use or disposition.
Because of inherent limitations in internal control,
errors or irregularities may occur and not be detected. Also,
projection of any evaluation of internal control to future periods is
subject to the risk that it may become inadequate because of
changes in conditions or that the effectiveness of the design and
operation may deteriorate.
Our consideration of the internal control would not
necessarily disclose all matters in the internal control
that might be material weaknesses under standards established by
the American Institute of Certified Public Accountants. A material
weakness is a condition in which the design or operation of one or more of the
internal control structure components does not reduce to a
relatively low level the risk that errors or irregularities in
amounts that would be material in relation to the financial
statements being audited may occur and not be detected within a
timely period by employees in the normal course of performing their
assigned functions. However, we noted no matters involving the
internal control and its operation, including controls for safeguarding
securities, that we consider to be material weaknesses as defined
above as of July 31, 1997.
This report is intended solely for the information and use of
The Board of Directors and management of FBL Money Market Fund, Inc. and
the Securities and Exchange Commission.
/s/ Ernst & Young LLP
August 29, 1997
