MONEY MARKET VARIABLE ACCOUNT /MA/
24F-2NT, 1998-03-18
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                           U.S. SECURITIES AND EXCHANGE COMMISSION
                                   Washington, D.C. 20549

                                         FORM 24F-2

                              Annual Notice of Securities Sold
                                   Pursuant to Rule 24f-2

                   Read instructions at end of Form before preparing Form.
                              Please print or type.

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1.   Name and address of issuer:  Money Market Variable Account
                                  500 Boylston Street
                                  Boston, MA  02116

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2.   The name of each series or class of securities for which this Form is filed
(If the Form is being filed for all series and classes of the issuer,  check the
box but do not list series or classes):     X

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3.   Investment Company Act File Number:  811-3563

     Securities Act File Number: 2-79141
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4(a). Last day of fiscal year for which this notice is filed:  
          December  31, 1997
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4(b).    Check box if this Form is being filed late (i.e., more than 90
calendar days after the end of the issuer's fiscal year).  (See Instruction
A.2)

NOTE:  IF THE FORM IS BEING FILED LATE, INTEREST MUST BE PAID ON THE
REGISTRATION
FEE DUE.
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4(c). Check box is this is the last time the issuer will be filing this Form.
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5. Calculation of registration fee:

    (i)  Aggregate sale price of securities sold               $ 7,209,000
          during the fiscal year pursuant to                  ______________
          section 24(f):

   (ii) Aggregate price of securities redeemed                 $ 17,174,000
          or repurchased during the fiscal year:              ______________

  (iii) Aggregate  price of  securities  redeemed  or          $  21,679,551 
        repurchased during any prior  fiscal  year            ______________ 
        ending no  earlier  than October 11, 1995 that 
        were not  previously  used to reduce  registration
        fees payable to the commission:


   (iv) Total available  redemption  credits [add Items       $ 38,853,551 
        5(ii) and 5(iii)]:                                    _____________ 

   (v)  Net sales-if  Item 5(i) is greater than Item 5(iv)    $ 
        [subtract  Item 5(iv)from Item5(i)]:                  ______________

   (vi) Redemption credits available for use in future        $(31,644,551)
        years -if Item 5(i) is less than item 5(iv)           ______________ 
        [subtract Item5(iv) from Item 5(i)]:

  (vii)  Multiplier for determining registration fee           x 0.000295
         (See Instruction C.9):                               _____________

 (viii)  Registration fee due [multiply item 5(v) by Item     = $   0
         5 (vii)] (enter "0" if no fee is due):               _____________ 
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6.   Prepaid Shares

      If the response to Item 5(i) was determined by deducting an amount of
securities that were registered under the Securities Act of 1993 pursuant to
rule 24e-2 as in effect before October 11, 1997, then report the amount of
securities (number of shares or other units ) deducted here:           .  If
there is a number of shares or other units that were registered pursuant to
rule 24e-2 remaining unsold at the end of the fiscal year for which this form
is filed that are available for use by the issuer in future fiscal years, then
state that number here:  _______.
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7.  Interest due - if this Form is being filed more than 90 days after the
    end of the issuer's fiscal year (see Instruction D):   +$ _____________
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8. Total of the amount of the registration fee due plus = any interest due [line
   5(viii) plus line 7]:  _____________
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9. Date  the  registration  fee  and  any  interest  payment  was  sent to the
   Commission's lockbox depository:
       Method of Delivery -

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                                  SIGNATURES

This  report has been  signed  below by the  following  persons on behalf of the
issuer and in the capacities and on the dates indicated.

By:  (Signature and Title)* /s/ JAMES R. BORDEWICK, JR., ASSISTANT SECRETARY
                           ------------------------------------------------

              James R. Bordewick, Jr., Assistant Secretary
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Date:  March 11, 1998
       -------------------------------

*Please print the name and title of the signing officer below the signature.
- --------------------------------------------------------------------------------








March 11, 1998


Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street, N.W.
Washington, DC  20549


Re:     Rule 24f-2 Notice for Money Market Variable Account
         (File Nos.:  811-3563, 2-79141)

Ladies and Gentlemen:

Enclosed on behalf of the Trust for filing  pursuant to Rule  24f-2(b)(1)  under
the Investment Company Act of 1940 are the following:

1. One copy of the Trust's  Rule 24f-2  Notice  with  respect to its fiscal year
ended December 31, 1997.

2. No Fee is payable under Rule 24f-2 in connection with this filing.

Please  contact  me  collect  at  617-954-5827  should  you have  any  questions
concerning this Notice.

Very truly yours,

MARK D. KAPLAN

Mark D. Kaplan
Assistant Counsel

Enclosures



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