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<PAGE> PAGE 2
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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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 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 15
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<PAGE> PAGE 17
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<PAGE> PAGE 19
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008 B000301 A
008 C000301 801-45016
008 D010301 OAK BROOK
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008 D040301 1930
008 A000302 FEDERATED INVESTMENT COUNSELING
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008 D020302 PA
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<PAGE> PAGE 20
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050 000300 N
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<PAGE> PAGE 21
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064 A000300 N
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070 E020300 N
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070 I010300 N
070 I020300 N
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070 J020300 Y
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070 L020300 N
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<PAGE> PAGE 22
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<PAGE> PAGE 23
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008 A000401 FIRST VARIABLE ADVISORY SERVICES CORP.
008 B000401 A
008 C000401 801-45016
008 D010401 OAK BROOK
008 D020401 IL
008 D030401 60523
008 D040401 1930
008 A000402 VALUE LINE, INC.
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008 D010402 NEW YORK
008 D020402 NY
008 D030402 10017
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<PAGE> PAGE 24
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<PAGE> PAGE 25
062 I000400 0.0
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070 E020400 N
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070 I020400 N
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<PAGE> PAGE 26
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<PAGE> PAGE 27
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008 A000501 FIRST VARIABLE ADVISORY SERVICES CORP.
008 B000501 A
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<PAGE> PAGE 28
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<PAGE> PAGE 29
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<PAGE> PAGE 30
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<PAGE> PAGE 31
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008 A000601 FIRST VARIABLE ADVISORY SERVICES CORP.
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<PAGE> PAGE 32
008 D020601 IL
008 D030601 60523
008 D040601 1930
008 A000602 KEYSTONE INVESTMENT MANAGEMENT COMPANY
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008 D020602 MA
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<PAGE> PAGE 33
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<PAGE> PAGE 34
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<PAGE> PAGE 35
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<PAGE> PAGE 36
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008 A000701 FIRST VARIABLE ADVISORY SERVICES CORP.
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008 A000702 PILGRIM BAXTER & ASSOCIATES, LTD.
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<PAGE> PAGE 37
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<PAGE> PAGE 38
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<PAGE> PAGE 39
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<PAGE> PAGE 41
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