<PAGE> PAGE 1
000 A000000 05/31/95
000 C000000 0000763856
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 AMERICAN CAPITAL TAX-EXEMPT TRUST
001 B000000 811-04746
001 C000000 7139930500
002 A000000 2800 POST OAK BLVD.
002 B000000 HOUSTON
002 C000000 TX
002 D010000 77056
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 2
007 C010100 1
007 C020100 HIGH YIELD MUNICIPAL PORTFOLIO
007 C030100 N
007 C010200 2
007 C020200 INSURED MUNICIPAL PORTFOLIO
007 C030200 N
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 A00AA01 VAN KAMPEN AMERICAN CAPITAL ASSET MGT., INC.
008 B00AA01 A
008 C00AA01 801-8286
008 D01AA01 HOUSTON
008 D02AA01 TX
008 D03AA01 77056
011 A00AA01 VAN KAMPEN AMERICAN CAPITAL DISTRIBUTORS, INC
011 B00AA01 8-19903
011 C01AA01 HOUSTON
011 C02AA01 TX
011 C03AA01 77056
012 A00AA01 ACCESS INVESTOR SERVICES, INC.
012 B00AA01 84-01621
012 C01AA01 KANSAS CITY
012 C02AA01 MO
<PAGE> PAGE 2
012 C03AA01 64141
012 C04AA01 9256
013 A00AA01 PRICE WATERHOUSE LLP
013 B01AA01 HOUSTON
013 B02AA01 TX
013 B03AA01 77002
015 A00AA01 STATE STREET BANK & TRUST CO.
015 B00AA01 C
015 C01AA01 BOSTON
015 C02AA01 MA
015 C03AA01 02110
015 E01AA01 X
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 34
019 C00AA00 ACFHOUSTON
020 A000001 PAINE WEBBER GROUP, INC.
020 B000001 13-2638166
020 C000001 18
020 A000002 BEAR STEARNS & CO., INC.
020 B000002 13-3299429
020 C000002 13
020 C000003 0
020 C000004 0
020 C000005 0
020 C000006 0
020 C000007 0
020 C000008 0
020 C000009 0
020 C000010 0
021 000000 31
022 A000001 SALOMON BROTHERS, INC.
022 B000001 13-3082694
022 C000001 523525
022 D000001 0
022 A000002 LEHMAN BROTHERS, INC.
022 B000002 13-2518466
022 C000002 131530
022 D000002 3100
022 A000003 STATE STREET BANK & TRUST CO.
022 B000003 04-1867445
022 C000003 78450
022 D000003 0
022 A000004 SBC CAPITAL MARKETS, INC.
022 B000004 13-2639550
022 C000004 24570
022 D000004 0
022 A000005 NUVEEN JOHN & CO., INC.
022 B000005 36-2639476
022 C000005 12080
022 D000005 12080
<PAGE> PAGE 3
022 A000006 MERRILL LYNCH, INC.
022 B000006 13-5674085
022 C000006 11000
022 D000006 10200
022 A000007 PRUDENTIAL SECURITIES
022 B000007 22-2347336
022 C000007 12409
022 D000007 8450
022 A000008 SMITH BARNEY, INC.
022 B000008 13-1912900
022 C000008 15898
022 D000008 3213
022 A000009 GOLDMAN SACHS & CO.
022 B000009 13-5108880
022 C000009 11788
022 D000009 3500
022 A000010 PAINE WEBBER GROUP, INC.
022 B000010 13-2638166
022 C000010 7000
022 D000010 7600
023 C000000 913027
023 D000000 76089
024 00AA00 N
026 A000000 Y
026 B000000 Y
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026 G020000 N
026 H000000 N
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042 C00AA00 100
042 D00AA00 0
042 E00AA00 0
042 F00AA00 0
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042 H00AA00 0
043 00AA00 1828
044 00AA00 0
045 00AA00 Y
046 00AA00 N
047 00AA00 Y
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048 A01AA00 300000
048 A02AA00 0.600
048 B01AA00 300000
048 B02AA00 0.550
<PAGE> PAGE 4
048 C01AA00 0
048 C02AA00 0.000
048 D01AA00 0
048 D02AA00 0.000
048 E01AA00 0
048 E02AA00 0.000
048 F01AA00 0
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048 G02AA00 0.000
048 H01AA00 0
048 H02AA00 0.000
048 I01AA00 0
048 I02AA00 0.000
048 J01AA00 0
048 J02AA00 0.000
048 K01AA00 600000
048 K02AA00 0.500
049 00AA00 N
050 00AA00 N
051 00AA00 N
052 00AA00 N
053 A00AA00 N
054 A00AA00 Y
054 B00AA00 N
054 C00AA00 N
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 Y
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 N
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 Y
055 A00AA00 N
055 B00AA00 N
056 00AA00 N
057 00AA00 N
058 A00AA00 N
059 00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
061 00AA00 500
066 A00AA00 N
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<PAGE> PAGE 5
077 D000000 N
077 E000000 N
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077 G000000 N
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077 I000000 N
077 J000000 N
077 K000000 N
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028 A010100 18438
028 A020100 1465
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<PAGE> PAGE 6
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064 A000100 Y
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070 A010100 Y
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070 D020100 N
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070 E020100 Y
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070 H010100 N
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<PAGE> PAGE 7
070 I020100 N
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070 K010100 N
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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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068 A000200 N
068 B000200 N
069 000200 N
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070 C010200 N
070 C020200 N
070 D010200 N
070 D020200 N
070 E010200 Y
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070 F010200 N
070 F020200 N
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070 G020200 N
070 H010200 N
070 H020200 N
070 I010200 N
070 I020200 N
070 J010200 Y
070 J020200 N
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070 K020200 N
070 L010200 N
070 L020200 N
070 M010200 N
070 M020200 N
070 N010200 N
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070 O020200 N
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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SIGNATURE TANYA LODEN
TITLE CONTROLLER
<PAGE> 1
N-SAR ITEM 77C
High Yield Municipal Portfolio
a) A Special Meeting of Shareholders was held on December 16, 1994.
b) Inapplicable
c) The following was voted on at the meeting:
1) Approval of a new investment advisory agreement between the Registrant
and American Capital Asset Management, Inc. to take effect upon the
closing of the proposed acquisition of American Capital Management &
Research, Inc. by The Van Kampen Merritt Companies, Inc.
For 38,043,048.700 Against 810,362.300
2) Approval of new investment subadvisory agreement between American
Capital Asset Management Inc. and American Capital Advisors, Inc.
relating to the Fund which will take effect upon the closing of the
transaction.
For 37,931,565.252 Against 821,151.476
d) Inapplicable
<PAGE> 1
N-SAR ITEM 77C
Insured Municipal Portfolio
a) A Special Meeting of Shareholders was held on December 16, 1994.
b) Inapplicable
c) The following was voted on at the meeting:
1) Approval of a new investment advisory agreement between the Registrant
and American Capital Asset Management, Inc. to take effect upon the
closing of the proposed acquisition of American Capital Management &
Research, Inc. by The Van Kampen Merritt Companies, Inc.
For 6,460,526.769 Against 91,708.475
d) Inapplicable
<PAGE> 1
EXHIBIT 77 0
AMERICAN CAPITAL HIGH YIELD MUNICIPAL
PORTFOLIO OF AMERICAN CAPITAL TAX-EXEMPT TRUST
Underwritings Pursuant to Rule 10f-3
1. Name of Issuer: City of New York GO
Securities Acquired From: Lehman Bros.
Syndicate Members: See attached
Principal Amount in Offering: 750,000,000
Principal Amount Purchased: 3,000,000
Price Per Share: $0.991
Purchase Date: 11-15-94
2. Name of Issuer: IDA Scottsdale, AZ
Securities Acquired From: Herbert J. Sims
Syndicate Members: See attached
Principal Amount in Offering: 31,490,000
Principal Amount Purchased: 1,200,000
Price Per Share: $1.00
Purchase Date: 12-7-94
<PAGE> 2
THE CITY OF NEW YORK
GENERAL OBLIGATION BONDS, FISCAL 1994 SERIES C
UNDERWRITERS
LEHMAN BROTHERS
<TABLE>
<S> <C>
BEAR, STEARNS & CO. INC. CS FIRST BOSTON
GOLDMAN, SACHS & CO. MERRILL LYNCH & CO.
J.P. MORGAN SECURITIES INC. PRUDENTIAL SECURITIES INCORPORATED
ARTEMIS CAPITAL GROUP, INC. GEORGE K. BAUM & CO.
CARMONA, MOTLEY & CO., INC. CHEMICAL SECURITIES INC.
DILLON, READ & CO. INC. DONALDSON, LUFKIN & JENRETTE SECURITIES CORP.
FIRST ALBANY CORPORATION FIRST CHICAGO CAPITAL MARKETS, INC.
GLICKENHAUS & CO. GRIGSBY BRANDFORD & CO., INC.
KIDDER, PEABODY & CO. INCORPORATED LAZARD FRERES & CO.
WR LAZARD, LAIDLAW & MEAD, INC. LEBENTHAL & CO., INC.
MORGAN STANLEY & CO. INCORPORATED THE NIKKO SECURITIES CO. INTNL., INC.
PAINWEBBER INCORPORATED PRYOR, MCCLENDON, COUNTS & CO., INC.
SAMUEL A. RAMIREZ & CO., INC. MURIEL SLEBERT & CO., INC.
SMITH BARNEY, SHEARSON INCORPORATE DEAN WITTER REYNOLDS INC.
</TABLE>
<PAGE> 3
IDA, SCOTTSDALE, AZ
HERBERT J. SIMS & CO., INC.
SMITH BARNEY INC.
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000763856
<NAME> TET-HIGH YIELD MUNI-A
<SERIES>
<NUMBER> 1
<NAME> CLASS A SHARES
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> NOV-30-1995
<PERIOD-START> DEC-01-1994
<PERIOD-END> MAY-31-1995
<INVESTMENTS-AT-COST> 671,912,967
<INVESTMENTS-AT-VALUE> 697,980,781
<RECEIVABLES> 34,990,737
<ASSETS-OTHER> 3,789
<OTHER-ITEMS-ASSETS> 92,556
<TOTAL-ASSETS> 733,067,863
<PAYABLE-FOR-SECURITIES> 5,406,239
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 4,292,395
<TOTAL-LIABILITIES> 9,698,634
<SENIOR-EQUITY> 655,900
<PAID-IN-CAPITAL-COMMON> 735,161,465
<SHARES-COMMON-STOCK> 43,824,232
<SHARES-COMMON-PRIOR> 39,398,176
<ACCUMULATED-NII-CURRENT> 232,987
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 23,359,621
<NET-ASSETS> 723,369,229
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 25,494,223
<OTHER-INCOME> 0
<EXPENSES-NET> 4,009,071
<NET-INVESTMENT-INCOME> 21,485,152
<REALIZED-GAINS-CURRENT> (8,439,270)
<APPREC-INCREASE-CURRENT> 43,303,840
<NET-CHANGE-FROM-OPS> 56,349,722
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 15,309,716
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 7,067,614
<NUMBER-OF-SHARES-REDEEMED> 3,234,842
<SHARES-REINVESTED> 593,284
<NET-CHANGE-IN-ASSETS> 137,650,918
<ACCUMULATED-NII-PRIOR> 221,911
<ACCUMULATED-GAINS-PRIOR> (27,601,474)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,803,987
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 4,009,071
<AVERAGE-NET-ASSETS> 442,391,825
<PER-SHARE-NAV-BEGIN> 10.44
<PER-SHARE-NII> .37
<PER-SHARE-GAIN-APPREC> .595
<PER-SHARE-DIVIDEND> .375
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.03
<EXPENSE-RATIO> 1.01
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000763856
<NAME> TET HIGH YIELD MUNI- B
<SERIES>
<NUMBER> 2
<NAME> CLASS B SHARES
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> NOV-30-1995
<PERIOD-START> DEC-01-1994
<PERIOD-END> MAY-31-1995
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 0
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 0
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 19,334,972
<SHARES-COMMON-PRIOR> 15,273,330
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 0
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 0
<OTHER-INCOME> 0
<EXPENSES-NET> 0
<NET-INVESTMENT-INCOME> 0
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 0
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 5,546,315
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 4,690,309
<NUMBER-OF-SHARES-REDEEMED> 852,273
<SHARES-REINVESTED> 223,606
<NET-CHANGE-IN-ASSETS> 0
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 0
<AVERAGE-NET-ASSETS> 181,559,440
<PER-SHARE-NAV-BEGIN> 10.43
<PER-SHARE-NII> .34
<PER-SHARE-GAIN-APPREC> .593
<PER-SHARE-DIVIDEND> .333
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.03
<EXPENSE-RATIO> 1.76
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>EXPENSE RATIO IS ANNUALIZED
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000763856
<NAME> TET HIGH YIELD MUNI-C
<SERIES>
<NUMBER> 3
<NAME> CLASS C SHARES
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> NOV-30-1995
<PERIOD-START> DEC-01-1994
<PERIOD-END> MAY-31-1995
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 0
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 0
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 2,430,755
<SHARES-COMMON-PRIOR> 1,465,808
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 0
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 0
<OTHER-INCOME> 0
<EXPENSES-NET> 0
<NET-INVESTMENT-INCOME> 0
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 0
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 618,045
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,099,443
<NUMBER-OF-SHARES-REDEEMED> 164,904
<SHARES-REINVESTED> 30,408
<NET-CHANGE-IN-ASSETS> 0
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 0
<AVERAGE-NET-ASSETS> 20,348,935
<PER-SHARE-NAV-BEGIN> 10.42
<PER-SHARE-NII> .33
<PER-SHARE-GAIN-APPREC> .603
<PER-SHARE-DIVIDEND> .333
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.02
<EXPENSE-RATIO> 1.76
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>EXPENSE RATIO IS ANNUALIZED
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000763856
<NAME> TET INSURED MUNI - A
<SERIES>
<NUMBER> 1
<NAME> CLASS A
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> NOV-30-1995
<PERIOD-START> DEC-01-1994
<PERIOD-END> MAY-31-1995
<INVESTMENTS-AT-COST> 101,731,768
<INVESTMENTS-AT-VALUE> 104,674,004
<RECEIVABLES> 2,709,218
<ASSETS-OTHER> 682
<OTHER-ITEMS-ASSETS> 34,244
<TOTAL-ASSETS> 107,418,148
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 614,114
<TOTAL-LIABILITIES> 614,114
<SENIOR-EQUITY> 94,932
<PAID-IN-CAPITAL-COMMON> 109,847,508
<SHARES-COMMON-STOCK> 6,078,404
<SHARES-COMMON-PRIOR> 6,379,617
<ACCUMULATED-NII-CURRENT> 127,885
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (6,208,527)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2,942,236
<NET-ASSETS> 106,804,034
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 3,605,834
<OTHER-INCOME> 0
<EXPENSES-NET> 759,953
<NET-INVESTMENT-INCOME> 2,845,881
<REALIZED-GAINS-CURRENT> (332,188)
<APPREC-INCREASE-CURRENT> 7,039,056
<NET-CHANGE-FROM-OPS> 9,552,749
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1,845,340
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 249,433
<NUMBER-OF-SHARES-REDEEMED> 633,580
<SHARES-REINVESTED> 82,934
<NET-CHANGE-IN-ASSETS> 1,949,545
<ACCUMULATED-NII-PRIOR> 21,529
<ACCUMULATED-GAINS-PRIOR> (5,876,339)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 295,842
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 759,953
<AVERAGE-NET-ASSETS> 67,371,516
<PER-SHARE-NAV-BEGIN> 10.55
<PER-SHARE-NII> .31
<PER-SHARE-GAIN-APPREC> .69
<PER-SHARE-DIVIDEND> .30
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.25
<EXPENSE-RATIO> 1.17
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1> EXPENSE RATIO IS ANNUALIZED
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000763856
<NAME> TET INSURED MUNI-B
<SERIES>
<NUMBER> 2
<NAME> CLASS B
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> NOV-30-1995
<PERIOD-START> DEC-01-1995
<PERIOD-END> MAY-31-1995
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 0
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 0
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 3,296,697
<SHARES-COMMON-PRIOR> 3,379,577
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 0
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 0
<OTHER-INCOME> 0
<EXPENSES-NET> 0
<NET-INVESTMENT-INCOME> 0
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 0
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 849,634
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 178,561
<NUMBER-OF-SHARES-REDEEMED> 304,428
<SHARES-REINVESTED> 42,987
<NET-CHANGE-IN-ASSETS> 0
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 0
<AVERAGE-NET-ASSETS> 36,372,894
<PER-SHARE-NAV-BEGIN> 10.55
<PER-SHARE-NII> .27
<PER-SHARE-GAIN-APPREC> .688
<PER-SHARE-DIVIDEND> .258
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.25
<EXPENSE-RATIO> 1.92
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>EXPENSE RATIO IS ANNUALIZED
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000763856
<NAME> TET INSURED MUNI -C
<SERIES>
<NUMBER> 3
<NAME> CLASS C
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> NOV-30-1995
<PERIOD-START> DEC-01-1994
<PERIOD-END> MAY-31-1995
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 0
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 0
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 118,058
<SHARES-COMMON-PRIOR> 180,188
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 0
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 0
<OTHER-INCOME> 0
<EXPENSES-NET> 0
<NET-INVESTMENT-INCOME> 0
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 0
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 44,551
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 33,394
<NUMBER-OF-SHARES-REDEEMED> 98,898
<SHARES-REINVESTED> 3,374
<NET-CHANGE-IN-ASSETS> 0
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 0
<AVERAGE-NET-ASSETS> 1,887,118
<PER-SHARE-NAV-BEGIN> 10.54
<PER-SHARE-NII> .27
<PER-SHARE-GAIN-APPREC> .688
<PER-SHARE-DIVIDEND> .258
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.24
<EXPENSE-RATIO> 1.92
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>EXPENSE RATIO IS ANNUALIZED
</FN>
</TABLE>
