<PAGE> PAGE 1
000 A000000 04/30/96
000 C000000 0000817982
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 OPPENHEIMER QUEST FOR VALUE FUNDS
001 B000000 811-5225
001 C000000 2123230200
002 A000000 2 WORLD TRADE CENTER
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10048
002 D020000 0203
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 6
007 C010100 1
007 C020100 US GOVERNMENT INCOME FUND
007 C030100 Y
007 C010200 2
007 C020200 SMALL CAPITALIZATION FUND
007 C030200 N
007 C010300 3
007 C020300 OPPORTUNITY FUND
007 C030300 N
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C020800 INVESTMENT QUALITY INCOME FUND
007 C030800 Y
007 C010900 9
007 C020900 GROWTH AND INOME FUND
007 C030900 N
007 C011000 10
007 C021000 OFFICERS FUND
007 C031000 N
007 C011100 11
007 C011200 12
007 C011300 13
007 C011400 14
007 C011500 15
007 C011600 16
<PAGE> PAGE 2
007 C011700 17
007 C011800 18
007 C011900 19
007 C012000 20
007 C012100 21
007 C012200 22
007 C012300 23
007 C012400 24
007 C012500 25
007 C012600 26
007 C012700 27
007 C012800 28
007 C012900 29
007 C013000 30
008 A00AA01 OPPENHEIMERFUNDS, INC.
008 B00AA01 A
008 C00AA01 801-8253
008 D01AA01 NEW YORK
008 D02AA01 NY
008 D03AA01 10048
008 D04AA01 0203
008 A00AA02 OPCAP ADVISORS
008 B00AA02 S
008 C00AA02 801-27180
008 D01AA02 NEW YORK
008 D02AA02 NY
008 D03AA02 10281
011 A00AA01 OPPENHEIMERFUNDS DISTRIBUTOR, INC.
011 B00AA01 8-22992
011 C01AA01 NEW YORK
011 C02AA01 NY
011 C03AA01 10048
011 C04AA01 0203
012 A00AA01 OPPENHEIMERFUNDS SERVICES
012 B00AA01 84-1562
012 C01AA01 DENVER
012 C02AA01 CO
012 C03AA01 80231
013 A00AA01 PRICE WATERHOUSE LLP
013 B01AA01 NEW YORK
013 B02AA01 NY
013 B03AA01 10036
014 A00AA01 OPPENHEIMER & CO., INC.
014 B00AA01 8-18333
014 A00AA02 DELETE
015 A00AA01 STATE STREET BANK & TRUST CO.
015 B00AA01 C
015 C01AA01 BOSTON
015 C02AA01 MA
015 C03AA01 02266
015 E01AA01 X
<PAGE> PAGE 3
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 48
019 C00AA00 OPPENHEIMR
020 A000001 OPPENHEIMER & CO., INC.
020 B000001 13-2798343
020 C000001 190
020 A000002 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
020 B000002 13-5674085
020 C000002 65
020 A000003 COWEN & CO.
020 B000003 13-5616116
020 C000003 53
020 A000004 SMITH BARNEY, HARRIS UPHAM & CO., INC.
020 B000004 13-3371860
020 C000004 40
020 A000005 FIRST BOSTON CORP. (THE)
020 B000005 13-5659485
020 C000005 36
020 A000006 HONG KONG & SHANGHAI BANK CORP.
020 B000006 FOREIGN
020 C000006 35
020 A000007 GOLDMAN, SACHS & CO.
020 B000007 13-5108880
020 C000007 33
020 A000008 BEAR SECURITIES CORP.
020 B000008 13-3299429
020 C000008 28
020 A000009 MORGAN STANLEY & CO., INC.
020 B000009 13-2655998
020 C000009 23
020 A000010 JEFFERIES & CO., INC.
020 B000010 95-2622900
020 C000010 23
021 000000 1210
022 A000001 OPPENHEIMER & CO., INC.
022 B000001 13-2798343
022 C000001 121222
022 D000001 30634
022 A000002 HONG KONG & SHANGHAI BANK
022 B000002 FOREIGN
022 C000002 111718
022 D000002 15529
022 A000003 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
022 B000003 13-5674085
022 C000003 107019
022 D000003 9898
022 A000004 SMITH BARNEY, HARRIS UPHAM & CO., INC.
022 B000004 13-3371860
022 C000004 38623
022 D000004 29395
<PAGE> PAGE 4
022 A000005 COWEN & CO.
022 B000005 13-5616116
022 C000005 45411
022 D000005 1224
022 A000006 CANTOR FITZGERALD & CO., INC.
022 B000006 95-1786286
022 C000006 12924
022 D000006 18566
022 A000007 BEAR SECURITIES CORP.
022 B000007 13-3299429
022 C000007 18405
022 D000007 3773
022 A000008 FIRST BOSTON CORP. (THE)
022 B000008 13-5659485
022 C000008 16911
022 D000008 5007
022 A000009 GOLDMAN, SACH & CO.
022 B000009 13-5108880
022 C000009 15375
022 D000009 6464
022 A000010 JONES & ASSOCIATES, INC.
022 B000010 95-3583143
022 C000010 16225
022 D000010 4975
023 C000000 1869311
023 D000000 289229
026 A000000 Y
026 B000000 Y
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
037 00AA00 N
038 00AA00 0
039 00AA00 N
040 00AA00 Y
041 00AA00 Y
054 A00AA00 Y
054 B00AA00 Y
054 C00AA00 Y
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 Y
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
<PAGE> PAGE 5
054 L00AA00 Y
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 Y
058 A00AA00 N
059 00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
061 00AA00 25
077 A000000 Y
077 B000000 N
077 C000000 Y
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
028 A010100 1277
028 A020100 278
028 A030100 0
028 A040100 3998
028 B010100 0
028 B020100 0
028 B030100 0
028 B040100 0
028 C010100 0
028 C020100 0
028 C030100 0
028 C040100 0
028 D010100 0
028 D020100 0
028 D030100 0
028 D040100 0
028 E010100 0
028 E020100 0
028 E030100 0
028 E040100 0
028 F010100 0
028 F020100 0
<PAGE> PAGE 6
028 F030100 0
028 F040100 0
028 G010100 1277
028 G020100 278
028 G030100 0
028 G040100 3998
028 H000100 0
029 000100 Y
030 A000100 2
030 B000100 4.75
030 C000100 0.00
031 A000100 1
031 B000100 0
032 000100 0
033 000100 1
034 000100 Y
035 000100 19
036 A000100 N
036 B000100 0
042 A000100 0
042 B000100 0
042 C000100 0
042 D000100 100
042 E000100 0
042 F000100 0
042 G000100 0
042 H000100 0
043 000100 27
044 000100 0
045 000100 Y
046 000100 N
047 000100 Y
048 000100 0.600
048 A010100 0
048 A020100 0.000
048 B010100 0
048 B020100 0.000
048 C010100 0
048 C020100 0.000
048 D010100 0
048 D020100 0.000
048 E010100 0
048 E020100 0.000
048 F010100 0
048 F020100 0.000
048 G010100 0
048 G020100 0.000
048 H010100 0
048 H020100 0.000
048 I010100 0
048 I020100 0.000
<PAGE> PAGE 7
048 J010100 0
048 J020100 0.000
048 K010100 0
048 K020100 0.000
055 A000100 N
055 B000100 N
056 000100 N
057 000100 N
062 A000100 Y
062 B000100 0.0
062 C000100 0.0
062 D000100 0.0
062 E000100 0.0
062 F000100 0.0
062 G000100 0.0
062 H000100 0.0
062 I000100 0.0
062 J000100 0.0
062 K000100 0.0
062 L000100 0.0
062 M000100 0.0
062 N000100 0.0
062 O000100 0.0
062 P000100 0.0
062 Q000100 0.0
062 R000100 0.0
063 A000100 0
063 B000100 0.0
071 A000100 36324
071 B000100 15019
071 C000100 96437
071 D000100 16
072 A000100 1
072 B000100 459
072 C000100 0
072 D000100 0
072 E000100 0
072 F000100 43
072 G000100 0
072 H000100 0
072 I000100 14
072 J000100 3
072 K000100 0
072 L000100 0
072 M000100 1
072 N000100 18
072 O000100 0
072 P000100 0
072 Q000100 8
072 R000100 0
072 S000100 1
<PAGE> PAGE 8
072 T000100 27
072 U000100 0
072 V000100 0
072 W000100 9
072 X000100 124
072 Y000100 0
072 Z000100 335
072AA000100 828
072BB000100 0
072CC010100 0
072CC020100 579
072DD010100 304
072DD020100 31
072EE000100 0
073 A010100 0.0000
073 A020100 0.0000
073 B000100 0.0000
073 C000100 0.0000
074 A000100 0
074 B000100 0
074 C000100 0
074 D000100 0
074 E000100 0
074 F000100 0
074 G000100 0
074 H000100 0
074 I000100 0
074 J000100 0
074 K000100 0
074 L000100 0
074 M000100 0
074 N000100 0
074 O000100 0
074 P000100 0
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 0
074 S000100 0
074 T000100 0
074 U010100 0
074 U020100 0
074 V010100 0.00
074 V020100 0.00
074 W000100 0.0000
074 X000100 0
074 Y000100 0
075 A000100 0
075 B000100 0
076 000100 0.00
<PAGE> PAGE 9
028 A010200 -980
028 A020200 0
028 A030200 0
028 A040200 1041
028 B010200 4177
028 B020200 8910
028 B030200 -322
028 B040200 4039
028 C010200 4297
028 C020200 0
028 C030200 0
028 C040200 6209
028 D010200 4592
028 D020200 0
028 D030200 0
028 D040200 5507
028 E010200 5134
028 E020200 0
028 E030200 0
028 E040200 12883
028 F010200 8333
028 F020200 0
028 F030200 0
028 F040200 4295
028 G010200 25553
028 G020200 8910
028 G030200 -322
028 G040200 33974
028 H000200 21161
029 000200 Y
030 A000200 121
030 B000200 5.75
030 C000200 0.00
031 A000200 27
031 B000200 0
032 000200 94
033 000200 0
034 000200 Y
035 000200 0
036 A000200 N
036 B000200 0
042 A000200 0
042 B000200 0
042 C000200 0
042 D000200 100
042 E000200 0
042 F000200 0
042 G000200 0
042 H000200 0
043 000200 462
044 000200 0
<PAGE> PAGE 10
045 000200 Y
046 000200 N
047 000200 Y
048 000200 0.000
048 A010200 400000
048 A020200 1.000
048 B010200 400000
048 B020200 0.900
048 C010200 0
048 C020200 0.000
048 D010200 0
048 D020200 0.000
048 E010200 0
048 E020200 0.000
048 F010200 0
048 F020200 0.000
048 G010200 0
048 G020200 0.000
048 H010200 0
048 H020200 0.000
048 I010200 0
048 I020200 0.000
048 J010200 0
048 J020200 0.000
048 K010200 800000
048 K020200 0.850
055 A000200 N
055 B000200 N
056 000200 N
057 000200 N
062 A000200 N
062 B000200 0.0
062 C000200 0.0
062 D000200 0.0
062 E000200 0.0
062 F000200 0.0
062 G000200 0.0
062 H000200 0.0
062 I000200 0.0
062 J000200 0.0
062 K000200 0.0
062 L000200 0.0
062 M000200 0.0
062 N000200 0.0
062 O000200 0.0
062 P000200 0.0
062 Q000200 0.0
062 R000200 0.0
070 A010200 Y
070 A020200 Y
070 B010200 Y
<PAGE> PAGE 11
070 B020200 N
070 C010200 Y
070 C020200 N
070 D010200 Y
070 D020200 N
070 E010200 N
070 E020200 N
070 F010200 Y
070 F020200 N
070 G010200 N
070 G020200 N
070 H010200 Y
070 H020200 N
070 I010200 N
070 I020200 N
070 J010200 Y
070 J020200 Y
070 K010200 Y
070 K020200 N
070 L010200 Y
070 L020200 Y
070 M010200 N
070 M020200 N
070 N010200 Y
070 N020200 N
070 O010200 Y
070 O020200 N
070 P010200 Y
070 P020200 N
070 Q010200 N
070 Q020200 N
070 R010200 N
070 R020200 N
071 A000200 38465
071 B000200 51154
071 C000200 132281
071 D000200 29
072 A000200 6
072 B000200 721
072 C000200 966
072 D000200 0
072 E000200 0
072 F000200 757
072 G000200 0
072 H000200 0
072 I000200 145
072 J000200 18
072 K000200 9
072 L000200 9
072 M000200 8
072 N000200 19
<PAGE> PAGE 12
072 O000200 0
072 P000200 0
072 Q000200 0
072 R000200 7
072 S000200 15
072 T000200 462
072 U000200 0
072 V000200 0
072 W000200 11
072 X000200 1460
072 Y000200 0
072 Z000200 228
072AA000200 8846
072BB000200 2356
072CC010200 12818
072CC020200 0
072DD010200 759
072DD020200 44
072EE000200 8452
073 A010200 0.1140
073 A020200 0.0330
073 B000200 0.9933
073 C000200 0.0000
074 A000200 242
074 B000200 0
074 C000200 24727
074 D000200 1452
074 E000200 0
074 F000200 133008
074 G000200 47
074 H000200 0
074 I000200 0
074 J000200 207
074 K000200 0
074 L000200 1677
074 M000200 8
074 N000200 161368
074 O000200 644
074 P000200 0
074 Q000200 0
074 R010200 0
074 R020200 0
074 R030200 0
074 R040200 1492
074 S000200 0
074 T000200 159232
074 U010200 6540
074 U020200 1433
074 V010200 18.47
074 V020200 18.28
074 W000200 0.0000
<PAGE> PAGE 13
074 X000200 9743
074 Y000200 0
075 A000200 0
075 B000200 152024
076 000200 0.00
028 A010300 35008
028 A020300 0
028 A030300 0
028 A040300 2295
028 B010300 49238
028 B020300 10708
028 B030300 -3
028 B040300 11245
028 C010300 67212
028 C020300 3
028 C030300 0
028 C040300 11321
028 D010300 89042
028 D020300 -1
028 D030300 0
028 D040300 14065
028 E010300 96908
028 E020300 0
028 E030300 0
028 E040300 11079
028 F010300 119619
028 F020300 0
028 F030300 0
028 F040300 14643
028 G010300 457027
028 G020300 10710
028 G030300 -3
028 G040300 64648
028 H000300 380404
029 000300 Y
030 A000300 3397
030 B000300 5.75
030 C000300 0.00
031 A000300 813
031 B000300 0
032 000300 2584
033 000300 0
034 000300 Y
035 000300 2
036 A000300 N
036 B000300 0
042 A000300 0
042 B000300 0
042 C000300 0
042 D000300 100
042 E000300 0
<PAGE> PAGE 14
042 F000300 0
042 G000300 0
042 H000300 0
043 000300 3018
044 000300 0
045 000300 Y
046 000300 N
047 000300 Y
048 000300 0.000
048 A010300 400000
048 A020300 1.000
048 B010300 400000
048 B020300 0.900
048 C010300 0
048 C020300 0.000
048 D010300 0
048 D020300 0.000
048 E010300 0
048 E020300 0.000
048 F010300 0
048 F020300 0.000
048 G010300 0
048 G020300 0.000
048 H010300 0
048 H020300 0.000
048 I010300 0
048 I020300 0.000
048 J010300 0
048 J020300 0.000
048 K010300 800000
048 K020300 0.850
055 A000300 N
055 B000300 N
056 000300 N
057 000300 N
062 A000300 N
062 B000300 0.0
062 C000300 0.0
062 D000300 0.0
062 E000300 0.0
062 F000300 0.0
062 G000300 0.0
062 H000300 0.0
062 I000300 0.0
062 J000300 0.0
062 K000300 0.0
062 L000300 0.0
062 M000300 0.0
062 N000300 0.0
062 O000300 0.0
062 P000300 0.0
<PAGE> PAGE 15
062 Q000300 0.0
062 R000300 0.0
070 A010300 Y
070 A020300 Y
070 B010300 Y
070 B020300 N
070 C010300 Y
070 C020300 N
070 D010300 Y
070 D020300 N
070 E010300 N
070 E020300 N
070 F010300 Y
070 F020300 N
070 G010300 N
070 G020300 N
070 H010300 Y
070 H020300 N
070 I010300 N
070 I020300 N
070 J010300 Y
070 J020300 N
070 K010300 Y
070 K020300 N
070 L010300 Y
070 L020300 Y
070 M010300 N
070 M020300 N
070 N010300 Y
070 N020300 N
070 O010300 Y
070 O020300 N
070 P010300 Y
070 P020300 N
070 Q010300 N
070 Q020300 N
070 R010300 N
070 R020300 N
071 A000300 419559
071 B000300 118451
071 C000300 728833
071 D000300 16
072 A000300 6
072 B000300 3513
072 C000300 6231
072 D000300 0
072 E000300 0
072 F000300 3982
072 G000300 0
072 H000300 0
072 I000300 372
<PAGE> PAGE 16
072 J000300 41
072 K000300 9
072 L000300 10
072 M000300 9
072 N000300 153
072 O000300 0
072 P000300 0
072 Q000300 0
072 R000300 10
072 S000300 5
072 T000300 3018
072 U000300 0
072 V000300 0
072 W000300 32
072 X000300 7641
072 Y000300 0
072 Z000300 2103
072AA000300 30885
072BB000300 2433
072CC010300 79559
072CC020300 0
072DD010300 2201
072DD020300 693
072EE000300 8161
073 A010300 0.1332
073 A020300 0.0703
073 B000300 0.2854
073 C000300 0.0000
074 A000300 0
074 B000300 0
074 C000300 183473
074 D000300 3250
074 E000300 0
074 F000300 948755
074 G000300 0
074 H000300 0
074 I000300 0
074 J000300 0
074 K000300 0
074 L000300 14345
074 M000300 60
074 N000300 1149883
074 O000300 8600
074 P000300 70
074 Q000300 0
074 R010300 0
074 R020300 0
074 R030300 0
074 R040300 4726
074 S000300 0
074 T000300 1136487
<PAGE> PAGE 17
074 U010300 21988
074 U020300 15358
074 V010300 27.77
074 V020300 27.47
074 W000300 0.0000
074 X000300 63132
074 Y000300 0
075 A000300 0
075 B000300 852063
076 000300 0.00
028 A010800 1016
028 A020800 156
028 A030800 0
028 A040800 3860
028 B010800 0
028 B020800 0
028 B030800 0
028 B040800 0
028 C010800 0
028 C020800 0
028 C030800 0
028 C040800 0
028 D010800 0
028 D020800 0
028 D030800 0
028 D040800 0
028 E010800 0
028 E020800 0
028 E030800 0
028 E040800 0
028 F010800 0
028 F020800 0
028 F030800 0
028 F040800 0
028 G010800 1016
028 G020800 156
028 G030800 0
028 G040800 3860
028 H000800 0
029 000800 Y
030 A000800 3
030 B000800 4.75
030 C000800 0.00
031 A000800 2
031 B000800 0
032 000800 0
033 000800 1
034 000800 Y
035 000800 4
036 A000800 N
036 B000800 0
<PAGE> PAGE 18
042 A000800 0
042 B000800 0
042 C000800 0
042 D000800 100
042 E000800 0
042 F000800 0
042 G000800 0
042 H000800 0
043 000800 22
044 000800 0
055 A000800 N
055 B000800 N
056 000800 N
057 000800 N
062 A000800 Y
062 B000800 0.0
062 C000800 0.0
062 D000800 0.0
062 E000800 0.0
062 F000800 0.0
062 G000800 0.0
062 H000800 0.0
062 I000800 0.0
062 J000800 0.0
062 K000800 0.0
062 L000800 0.0
062 M000800 0.0
062 N000800 0.0
062 O000800 0.0
062 P000800 0.0
062 Q000800 0.0
062 R000800 0.0
063 A000800 0
063 B000800 0.0
071 A000800 11839
071 B000800 14173
071 C000800 57061
071 D000800 21
072 A000800 1
072 B000800 296
072 C000800 0
072 D000800 0
072 E000800 0
072 F000800 23
072 G000800 0
072 H000800 0
072 I000800 7
072 J000800 1
072 K000800 0
072 L000800 0
072 M000800 1
<PAGE> PAGE 19
072 N000800 18
072 O000800 0
072 P000800 0
072 Q000800 7
072 R000800 0
072 S000800 1
072 T000800 22
072 U000800 1
072 V000800 0
072 W000800 4
072 X000800 85
072 Y000800 0
072 Z000800 211
072AA000800 558
072BB000800 0
072CC010800 0
072CC020800 544
072DD010800 156
072DD020800 55
072EE000800 0
073 A010800 0.0000
073 A020800 0.0000
073 B000800 0.0000
073 C000800 0.0000
074 A000800 0
074 B000800 0
074 C000800 0
074 D000800 0
074 E000800 0
074 F000800 0
074 G000800 0
074 H000800 0
074 I000800 0
074 J000800 0
074 K000800 0
074 L000800 0
074 M000800 0
074 N000800 0
074 O000800 0
074 P000800 0
074 Q000800 0
074 R010800 0
074 R020800 0
074 R030800 0
074 R040800 0
074 S000800 0
074 T000800 0
074 U010800 0
074 U020800 0
074 V010800 0.00
074 V020800 0.00
<PAGE> PAGE 20
074 W000800 0.0000
074 X000800 0
074 Y000800 0
075 A000800 0
075 B000800 0
076 000800 0.00
028 A010900 782
028 A020900 0
028 A030900 0
028 A040900 288
028 B010900 614
028 B020900 2204
028 B030900 -143
028 B040900 624
028 C010900 1345
028 C020900 0
028 C030900 0
028 C040900 523
028 D010900 1242
028 D020900 0
028 D030900 0
028 D040900 1031
028 E010900 1247
028 E020900 316
028 E030900 0
028 E040900 928
028 F010900 1399
028 F020900 0
028 F030900 0
028 F040900 574
028 G010900 6629
028 G020900 2520
028 G030900 -143
028 G040900 3968
028 H000900 5374
029 000900 Y
030 A000900 55
030 B000900 5.75
030 C000900 0.00
031 A000900 11
031 B000900 0
032 000900 44
033 000900 0
034 000900 Y
035 000900 0
036 A000900 N
036 B000900 0
042 A000900 0
042 B000900 0
042 C000900 0
042 D000900 100
<PAGE> PAGE 21
042 E000900 0
042 F000900 0
042 G000900 0
042 H000900 0
043 000900 134
044 000900 0
045 000900 Y
046 000900 N
047 000900 Y
048 000900 0.850
048 A010900 0
048 A020900 0.000
048 B010900 0
048 B020900 0.000
048 C010900 0
048 C020900 0.000
048 D010900 0
048 D020900 0.000
048 E010900 0
048 E020900 0.000
048 F010900 0
048 F020900 0.000
048 G010900 0
048 G020900 0.000
048 H010900 0
048 H020900 0.000
048 I010900 0
048 I020900 0.000
048 J010900 0
048 J020900 0.000
048 K010900 0
048 K020900 0.000
055 A000900 N
055 B000900 N
056 000900 N
057 000900 N
062 A000900 N
062 B000900 0.0
062 C000900 0.0
062 D000900 0.0
062 E000900 0.0
062 F000900 0.0
062 G000900 0.0
062 H000900 0.0
062 I000900 0.0
062 J000900 0.0
062 K000900 0.0
062 L000900 0.0
062 M000900 0.0
062 N000900 0.0
062 O000900 0.0
<PAGE> PAGE 22
062 P000900 0.0
062 Q000900 0.0
062 R000900 0.0
063 A000900 0
063 B000900 0.0
070 A010900 Y
070 A020900 Y
070 B010900 Y
070 B020900 N
070 C010900 Y
070 C020900 N
070 D010900 Y
070 D020900 N
070 E010900 N
070 E020900 N
070 F010900 Y
070 F020900 N
070 G010900 N
070 G020900 N
070 H010900 Y
070 H020900 N
070 I010900 N
070 I020900 N
070 J010900 Y
070 J020900 N
070 K010900 Y
070 K020900 N
070 L010900 Y
070 L020900 Y
070 M010900 N
070 M020900 N
070 N010900 Y
070 N020900 N
070 O010900 Y
070 O020900 N
070 P010900 Y
070 P020900 N
070 Q010900 N
070 Q020900 N
070 R010900 N
070 R020900 N
071 A000900 40912
071 B000900 38095
071 C000900 50292
071 D000900 76
072 A000900 6
072 B000900 703
072 C000900 327
072 D000900 0
072 E000900 0
072 F000900 217
<PAGE> PAGE 23
072 G000900 0
072 H000900 0
072 I000900 65
072 J000900 38
072 K000900 3
072 L000900 4
072 M000900 4
072 N000900 13
072 O000900 0
072 P000900 0
072 Q000900 0
072 R000900 6
072 S000900 2
072 T000900 134
072 U000900 0
072 V000900 0
072 W000900 15
072 X000900 503
072 Y000900 0
072 Z000900 527
072AA000900 5526
072BB000900 1236
072CC010900 1606
072CC020900 0
072DD010900 403
072DD020900 63
072EE000900 2165
073 A010900 0.1130
073 A020900 0.0810
073 B000900 0.5023
073 C000900 0.0000
074 A000900 603
074 B000900 0
074 C000900 0
074 D000900 18459
074 E000900 0
074 F000900 35730
074 G000900 0
074 H000900 0
074 I000900 0
074 J000900 0
074 K000900 0
074 L000900 716
074 M000900 15
074 N000900 55523
074 O000900 0
074 P000900 14
074 Q000900 0
074 R010900 0
074 R020900 0
074 R030900 0
<PAGE> PAGE 24
074 R040900 158
074 S000900 0
074 T000900 55351
074 U010900 3687
074 U020900 844
074 V010900 11.75
074 V020900 11.70
074 W000900 0.0000
074 X000900 1901
074 Y000900 0
075 A000900 0
075 B000900 51533
076 000900 0.00
028 A011000 279
028 A021000 0
028 A031000 0
028 A041000 60
028 B011000 161
028 B021000 338
028 B031000 0
028 B041000 63
028 C011000 139
028 C021000 0
028 C031000 0
028 C041000 8
028 D011000 49
028 D021000 0
028 D031000 0
028 D041000 3
028 E011000 126
028 E021000 0
028 E031000 0
028 E041000 222
028 F011000 699
028 F021000 0
028 F031000 0
028 F041000 8
028 G011000 1453
028 G021000 338
028 G031000 0
028 G041000 364
028 H001000 968
029 001000 N
030 A001000 0
030 B001000 0.00
030 C001000 0.00
031 A001000 0
031 B001000 0
032 001000 0
033 001000 0
034 001000 N
<PAGE> PAGE 25
035 001000 0
036 B001000 0
045 001000 Y
046 001000 N
047 001000 Y
048 001000 1.000
048 A011000 0
048 A021000 0.000
048 B011000 0
048 B021000 0.000
048 C011000 0
048 C021000 0.000
048 D011000 0
048 D021000 0.000
048 E011000 0
048 E021000 0.000
048 F011000 0
048 F021000 0.000
048 G011000 0
048 G021000 0.000
048 H011000 0
048 H021000 0.000
048 I011000 0
048 I021000 0.000
048 J011000 0
048 J021000 0.000
048 K011000 0
048 K021000 0.000
055 A001000 Y
055 B001000 N
056 001000 N
057 001000 N
062 A001000 N
062 B001000 0.0
062 C001000 0.0
062 D001000 0.0
062 E001000 0.0
062 F001000 0.0
062 G001000 0.0
062 H001000 0.0
062 I001000 0.0
062 J001000 0.0
062 K001000 0.0
062 L001000 0.0
062 M001000 0.0
062 N001000 0.0
062 O001000 0.0
062 P001000 0.0
062 Q001000 0.0
062 R001000 0.0
063 A001000 0
<PAGE> PAGE 26
063 B001000 0.0
070 A011000 Y
070 A021000 Y
070 B011000 Y
070 B021000 N
070 C011000 Y
070 C021000 N
070 D011000 Y
070 D021000 N
070 E011000 N
070 E021000 N
070 F011000 Y
070 F021000 N
070 G011000 N
070 G021000 N
070 H011000 Y
070 H021000 N
070 I011000 N
070 I021000 N
070 J011000 Y
070 J021000 N
070 K011000 Y
070 K021000 N
070 L011000 Y
070 L021000 N
070 M011000 N
070 M021000 N
070 N011000 Y
070 N021000 N
070 O011000 Y
070 O021000 N
070 P011000 Y
070 P021000 N
070 Q011000 N
070 Q021000 N
070 R011000 N
070 R021000 N
071 A001000 4602
071 B001000 2487
071 C001000 4058
071 D001000 61
072 A001000 6
072 B001000 14
072 C001000 21
072 D001000 0
072 E001000 0
072 F001000 23
072 G001000 0
072 H001000 0
072 I001000 2
072 J001000 3
<PAGE> PAGE 27
072 K001000 0
072 L001000 2
072 M001000 0
072 N001000 4
072 O001000 0
072 P001000 0
072 Q001000 0
072 R001000 5
072 S001000 1
072 T001000 9
072 U001000 0
072 V001000 0
072 W001000 1
072 X001000 50
072 Y001000 10
072 Z001000 7
072AA001000 354
072BB001000 0
072CC011000 729
072CC021000 0
072DD011000 85
072DD021000 0
072EE001000 268
073 A011000 0.2644
073 A021000 0.0000
073 B001000 0.8337
073 C001000 0.0000
074 A001000 16
074 B001000 0
074 C001000 400
074 D001000 0
074 E001000 0
074 F001000 5330
074 G001000 0
074 H001000 0
074 I001000 0
074 J001000 0
074 K001000 0
074 L001000 51
074 M001000 16
074 N001000 5813
074 O001000 0
074 P001000 1
074 Q001000 0
074 R011000 0
074 R021000 0
074 R031000 0
074 R041000 1
074 S001000 0
074 T001000 5811
074 U011000 404
<PAGE> PAGE 28
074 U021000 0
074 V011000 14.40
074 V021000 0.00
074 W001000 0.0000
074 X001000 172
074 Y001000 0
075 A001000 0
075 B001000 2873
SIGNATURE GEORGE C. BOWEN
TITLE TREASURER
<PAGE>
SHAREHOLDER MEETING
On November 3, 1995, a special meeting of the shareholders of the Fund was
held at which the five Trustees identified below were elected and the approval
of a new investment advisory agreement with OppenheimerFunds, Inc. (Proposal 1),
a new sub-advisory agreement between OppenheimerFunds, Inc. and OpCap Advisors
(Proposal 2), a new Distribution and Service Plan agreement with
OppenheimerFunds Distributor, Inc. (Proposal 3), changes in the Fund's classifi-
cation from a diversified to a non-diversified management investment company
(Proposal 4) and a change in the Fund's fundamental investment policies
(Proposal 5) were ratified. The following is a report of the votes cast:
<TABLE>
<CAPTION>
BROKER
NOMINEE/PROPOSAL FOR AGAINST WITHHELD/ABSTAIN NON-VOTES TOTAL
---------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Paul Y. Clinton 20,834,564.092 0 630,600.138 21,465,164.230
Thomas W. Courtney 20,836,286.487 0 628,877.743 21,465,164.230
Lacy B. Herrmann 20,838,638.097 0 626,526.133 21,465,164.230
George Loft 20,815,794.001 0 649,370.229 21,465,164.230
Bridget A. Macaskill 20,830,721.650 0 634,442.580 21,465,164.230
---------------------------------------------------------------------------------------------------------------
Proposal No. 1 251,922.658 0 0 251,922.658
Proposal No. 2 251,922.658 0 0 251,922.658
Proposal No. 3 251,922.658 0 0 251,922.658
Proposal No. 4 147,122.658 5,068.000 0 99,732.000 152,190.658
Proposal No. 5 146,122.658 6,068.000 0 99,732.000 152,190.658
</TABLE>
<PAGE>
SHAREHOLDER MEETING
On November 3, 1995, a special meeting of the shareholders of the Fund was
held at which the five Trustees identified below were elected and the approval
of a new investment advisory agreement with OppenheimerFunds, Inc. (Proposal 1),
a new sub-advisory agreement between OppenheimerFunds, Inc. and OpCap Advisors
(Proposal 2) and new Distribution and Service Plan agreements with
OppenheimerFunds Distributor, Inc. (Proposal 3) were ratified. The following is
a report of the votes cast (Class A, B and C shares voted together unless
otherwise indicated):
<TABLE>
<CAPTION>
NOMINEE/PROPOSAL FOR AGAINST WITHHELD/ABSTAIN TOTAL
----------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Paul Y. Clinton 20,834,564.092 0 630,600.138 21,465,164.230
Thomas W. Courtney 20,836,286.487 0 628,877.743 21,465,164.230
Lacy B. Herrmann 20,838,638.097 0 626,526.133 21,465,164.230
George Loft 20,815,794.001 0 649,370.229 21,465,164.230
Bridget A. Macaskill 20,830,721.650 0 634,442.580 21,465,164.230
----------------------------------------------------------------------------------------------
Proposal No. 1 13,250,685.936 219,917.193 273,766.779 13,744,369.908
Proposal No. 2 13,258,994.913 195,469.508 289,905.487 13,744,369.908
Proposal No. 3
Class A 7,563,167.693 148,771.576 150,257.185 7,862,196.454
Class B 4,647,917.961 63,426.681 134,073.017 4,845,417.659
Class C 994,181.685 15,698.101 26,876.009 1,036,755.795
</TABLE>
<PAGE>
SHAREHOLDER MEETING
On November 3, 1995, a special meeting of the shareholders of the Fund was
held at which the five Trustees identified below were elected and the approval
of a new investment advisory agreement with OppenheimerFunds, Inc. (Proposal 1),
a new sub-advisory agreement between OppenheimerFunds, Inc. and OpCap Advisors
(Proposal 2) and new Distribution and Service Plan agreements with
OppenheimerFunds Distributor, Inc. (Proposal 3) were ratified. The following is
a report of the votes cast (Class A, B and C shares voted together unless
otherwise indicated):
<TABLE>
<CAPTION>
NOMINEE/PROPOSAL FOR AGAINST WITHHELD/ABSTAIN TOTAL
--------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Paul Y. Clinton 20,834,564.092 0 630,600.138 21,465,164.230
Thomas W. Courtney 20,836,286.487 0 628,877.743 21,465,164.230
Lacy B. Herrmann 20,838,638.097 0 626,526.133 21,465,164.230
George Loft 20,815,794.001 0 649,370.229 21,465,164.230
Bridget A. Macaskill 20,830,721.650 0 634,442.580 21,465,164.230
--------------------------------------------------------------------------------------------------
Proposal No. 1 4,658,829.466 111,439.689 156,123.726 4,926,392.881
Proposal No. 2 4,651,281.588 119,702.963 155,408.330 4,926,392.881
Proposal No. 3
Class A 3,525,051.323 91,729.368 163,220.320 3,780,001.011
Class B 836,365.823 13,540.320 24,494.128 874,400.271
Class C 259,640.709 5,665.760 6,685.131 271,991.600
</TABLE>
<PAGE>
SHAREHOLDER MEETING
On November 3, 1995, a special meeting of the shareholders of the Fund was
held at which the five Trustees identified below were elected and the approval
of a new investment advisory agreement with OppenheimerFunds, Inc. (Proposal 1),
a new sub-advisory agreement between OppenheimerFunds, Inc. and OpCap Advisors
(Proposal 2) and new Distribution and Service Plan agreements with
OppenheimerFunds Distributor, Inc. (Proposal 3) were ratified. The following is
a report of the votes cast (Class A, B and C shares voted together unless
otherwise indicated):
<TABLE>
<CAPTION>
NOMINEE/PROPOSAL FOR AGAINST WITHHELD/ABSTAIN TOTAL
------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Paul Y. Clinton 20,834,564.092 0 630,600.138 21,465,164.230
Thomas W. Courtney 20,836,286.487 0 628,877.743 21,465,164.230
Lacy B. Herrmann 20,838,638.097 0 626,526.133 21,465,164.230
George Loft 20,815,794.001 0 649,370.229 21,465,164.230
Bridget A. Macaskill 20,830,721.650 0 634,442.580 21,465,164.230
------------------------------------------------------------------------------------------
Proposal No. 1 2,309,077.254 133,059.527 100,342.002 2,542,478.783
Proposal No. 2 2,305,220.805 131,840.522 105,417.456 2,542,478.783
Proposal No. 3
Class A 1,873,181.362 115,544.734 99,420.330 2,088,146.426
Class B 357,342.570 9,276.901 9,679.718 376,299.189
Class C 72,986.473 2,190.027 2,856.668 78,033.168
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000817982
<NAME> QUEST FOR VALUE FAMILY OF FUNDS
<SERIES>
<NUMBER> 081
<NAME> INVESTMENT QUALITY INCOME FUND CLASS A
<S> <C>
<PERIOD-TYPE> OTHER
<FISCAL-YEAR-END> OCT-31-1996
<PERIOD-START> NOV-01-1995
<PERIOD-END> APR-30-1996
<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> 0
<SHARES-COMMON-PRIOR> 0
<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> 295817
<OTHER-INCOME> 0
<EXPENSES-NET> (85138)
<NET-INVESTMENT-INCOME> 210679
<REALIZED-GAINS-CURRENT> 557893
<APPREC-INCREASE-CURRENT> (543887)
<NET-CHANGE-FROM-OPS> 224685
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (156116)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 44667
<NUMBER-OF-SHARES-REDEEMED> (320653)
<SHARES-REINVESTED> 10658
<NET-CHANGE-IN-ASSETS> (2673675)
<ACCUMULATED-NII-PRIOR> (1302)
<ACCUMULATED-GAINS-PRIOR> (1441862)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 23100
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 85138
<AVERAGE-NET-ASSETS> 0
<PER-SHARE-NAV-BEGIN> 10.88
<PER-SHARE-NII> .04
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.04)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.88
<EXPENSE-RATIO> 0
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000817982
<NAME> QUEST FOR VALUE FAMILY OF FUNDS
<SERIES>
<NUMBER> 082
<NAME> INVESTMENT QUALITY INCOME FUND CLASS B
<S> <C>
<PERIOD-TYPE> OTHER
<FISCAL-YEAR-END> OCT-31-1996
<PERIOD-START> NOV-01-1995
<PERIOD-END> APR-30-1996
<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> 0
<SHARES-COMMON-PRIOR> 0
<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> 295817
<OTHER-INCOME> 0
<EXPENSES-NET> (85138)
<NET-INVESTMENT-INCOME> 210679
<REALIZED-GAINS-CURRENT> 557893
<APPREC-INCREASE-CURRENT> (543887)
<NET-CHANGE-FROM-OPS> 224685
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (42080)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 44318
<NUMBER-OF-SHARES-REDEEMED> (24685)
<SHARES-REINVESTED> 3061
<NET-CHANGE-IN-ASSETS> (2673675)
<ACCUMULATED-NII-PRIOR> (1302)
<ACCUMULATED-GAINS-PRIOR> (1441862)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 23100
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 85138
<AVERAGE-NET-ASSETS> 0
<PER-SHARE-NAV-BEGIN> 10.88
<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> 10.88
<EXPENSE-RATIO> 0
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000817982
<NAME> QUEST FOR VALUE FAMILY OF FUNDS
<SERIES>
<NUMBER> 083
<NAME> INVESTMENT QUALITY INCOME FUND CLASS C
<S> <C>
<PERIOD-TYPE> OTHER
<FISCAL-YEAR-END> OCT-31-1996
<PERIOD-START> NOV-01-1995
<PERIOD-END> APR-30-1996
<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> 0
<SHARES-COMMON-PRIOR> 0
<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> 295817
<OTHER-INCOME> 0
<EXPENSES-NET> (85138)
<NET-INVESTMENT-INCOME> 210679
<REALIZED-GAINS-CURRENT> 557893
<APPREC-INCREASE-CURRENT> (543887)
<NET-CHANGE-FROM-OPS> 224685
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (12483)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 4443
<NUMBER-OF-SHARES-REDEEMED> (9529)
<SHARES-REINVESTED> 614
<NET-CHANGE-IN-ASSETS> (2673675)
<ACCUMULATED-NII-PRIOR> (1302)
<ACCUMULATED-GAINS-PRIOR> (1441862)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 23100
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 85138
<AVERAGE-NET-ASSETS> 0
<PER-SHARE-NAV-BEGIN> 10.88
<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> 10.88
<EXPENSE-RATIO> 0
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000817982
<NAME> QUEST FOR VALUE FAMILY OF FUNDS
<SERIES>
<NUMBER> 011
<NAME> US GOVERNMENT INCOME FUND CLASS A
<S> <C>
<PERIOD-TYPE> OTHER
<FISCAL-YEAR-END> OCT-31-1996
<PERIOD-START> NOV-01-1995
<PERIOD-END> APR-30-1996
<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> 0
<SHARES-COMMON-PRIOR> 0
<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> 459098
<OTHER-INCOME> 0
<EXPENSES-NET> (124296)
<NET-INVESTMENT-INCOME> 334802
<REALIZED-GAINS-CURRENT> 827841
<APPREC-INCREASE-CURRENT> (578884)
<NET-CHANGE-FROM-OPS> 583759
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (303688)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 89207
<NUMBER-OF-SHARES-REDEEMED> (273650)
<SHARES-REINVESTED> 22741
<NET-CHANGE-IN-ASSETS> (2194381)
<ACCUMULATED-NII-PRIOR> (100543)
<ACCUMULATED-GAINS-PRIOR> (9449554)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 43012
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 124296
<AVERAGE-NET-ASSETS> 0
<PER-SHARE-NAV-BEGIN> 11.27
<PER-SHARE-NII> .04
<PER-SHARE-GAIN-APPREC> .03
<PER-SHARE-DIVIDEND> (.04)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.30
<EXPENSE-RATIO> 0
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000817982
<NAME> QUEST FOR VALUE FAMILY OF FUNDS
<SERIES>
<NUMBER> 012
<NAME> US GOVERNMENT INCOME FUND CLASS B
<S> <C>
<PERIOD-TYPE> OTHER
<FISCAL-YEAR-END> OCT-31-1996
<PERIOD-START> NOV-01-1995
<PERIOD-END> APR-30-1996
<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> 0
<SHARES-COMMON-PRIOR> 0
<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> 459098
<OTHER-INCOME> 0
<EXPENSES-NET> (124296)
<NET-INVESTMENT-INCOME> 334802
<REALIZED-GAINS-CURRENT> 827841
<APPREC-INCREASE-CURRENT> (578884)
<NET-CHANGE-FROM-OPS> 583759
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (23946)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 18004
<NUMBER-OF-SHARES-REDEEMED> (58148)
<SHARES-REINVESTED> 1315
<NET-CHANGE-IN-ASSETS> (2194381)
<ACCUMULATED-NII-PRIOR> (100543)
<ACCUMULATED-GAINS-PRIOR> (9449554)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 43012
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 124296
<AVERAGE-NET-ASSETS> 0
<PER-SHARE-NAV-BEGIN> 11.27
<PER-SHARE-NII> .03
<PER-SHARE-GAIN-APPREC> .03
<PER-SHARE-DIVIDEND> (.03)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.30
<EXPENSE-RATIO> 0
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000817982
<NAME> QUEST FOR VALUE FAMILY OF FUNDS
<SERIES>
<NUMBER> 013
<NAME> US GOVERNMENT INCOME FUND CLASS C
<S> <C>
<PERIOD-TYPE> OTHER
<FISCAL-YEAR-END> OCT-31-1996
<PERIOD-START> NOV-01-1995
<PERIOD-END> APR-30-1996
<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> 0
<SHARES-COMMON-PRIOR> 0
<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> 459098
<OTHER-INCOME> 0
<EXPENSES-NET> (124296)
<NET-INVESTMENT-INCOME> 334802
<REALIZED-GAINS-CURRENT> 827841
<APPREC-INCREASE-CURRENT> (578884)
<NET-CHANGE-FROM-OPS> 583759
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (7168)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5827
<NUMBER-OF-SHARES-REDEEMED> (22146)
<SHARES-REINVESTED> 530
<NET-CHANGE-IN-ASSETS> (2194381)
<ACCUMULATED-NII-PRIOR> (100543)
<ACCUMULATED-GAINS-PRIOR> (9449554)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 43012
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 124296
<AVERAGE-NET-ASSETS> 0
<PER-SHARE-NAV-BEGIN> 11.27
<PER-SHARE-NII> .03
<PER-SHARE-GAIN-APPREC> .03
<PER-SHARE-DIVIDEND> (.03)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.30
<EXPENSE-RATIO> 0
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 817982
<NAME> Oppenheimer Quest Officers Value Fund
<SERIES>
<NUMBER> 10
<NAME> Oppenheimer Quest For Value Funds
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1996
<PERIOD-START> NOV-01-1995
<PERIOD-END> APR-30-1996
<INVESTMENTS-AT-COST> 4,706,387
<INVESTMENTS-AT-VALUE> 5,730,038
<RECEIVABLES> 50,858
<ASSETS-OTHER> 12,271
<OTHER-ITEMS-ASSETS> 19,507
<TOTAL-ASSETS> 5,812,674
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,667
<TOTAL-LIABILITIES> 1,667
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 4,459,480
<SHARES-COMMON-STOCK> 403,537
<SHARES-COMMON-PRIOR> 296,399
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 16,600
<ACCUMULATED-NET-GAINS> 344,476
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,023,651
<NET-ASSETS> 5,811,007
<DIVIDEND-INCOME> 21,468
<INTEREST-INCOME> 13,690
<OTHER-INCOME> 0
<EXPENSES-NET> 15,336
<NET-INVESTMENT-INCOME> 19,822
<REALIZED-GAINS-CURRENT> 354,475
<APPREC-INCREASE-CURRENT> 729,024
<NET-CHANGE-FROM-OPS> 1,103,321
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 84,878
<DISTRIBUTIONS-OF-GAINS> 267,637
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 107,636
<NUMBER-OF-SHARES-REDEEMED> 28,026
<SHARES-REINVESTED> 27,528
<NET-CHANGE-IN-ASSETS> 2,164,439
<ACCUMULATED-NII-PRIOR> 61,380
<ACCUMULATED-GAINS-PRIOR> 257,638
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 22,554
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 37,604
<AVERAGE-NET-ASSETS> 4,569,000
<PER-SHARE-NAV-BEGIN> 12.30
<PER-SHARE-NII> 0.02
<PER-SHARE-GAIN-APPREC> 3.18
<PER-SHARE-DIVIDEND> 0.27
<PER-SHARE-DISTRIBUTIONS> 0.83
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 14.40
<EXPENSE-RATIO> 1.24
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 817982
<NAME> Oppenheimer Quest Opportunity Value Fund-A
<SERIES>
<NUMBER> 3
<NAME> Oppenheimer Quest For Value Funds
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1996
<PERIOD-START> NOV-01-1995
<PERIOD-END> APR-30-1996
<INVESTMENTS-AT-COST> 956,525,493
<INVESTMENTS-AT-VALUE> 1,135,478,061
<RECEIVABLES> 14,344,872
<ASSETS-OTHER> 60,107
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,149,883,040
<PAYABLE-FOR-SECURITIES> 8,599,638
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 4,796,043
<TOTAL-LIABILITIES> 13,395,681
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 927,047,387
<SHARES-COMMON-STOCK> 21,987,866
<SHARES-COMMON-PRIOR> 14,934,153
<ACCUMULATED-NII-CURRENT> 2,083,720
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 28,403,684
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 178,952,568
<NET-ASSETS> 610,658,235
<DIVIDEND-INCOME> 6,230,946
<INTEREST-INCOME> 3,512,599
<OTHER-INCOME> 0
<EXPENSES-NET> 7,640,654
<NET-INVESTMENT-INCOME> 2,102,891
<REALIZED-GAINS-CURRENT> 28,451,799
<APPREC-INCREASE-CURRENT> 79,559,038
<NET-CHANGE-FROM-OPS> 110,113,728
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 2,200,790
<DISTRIBUTIONS-OF-GAINS> 4,713,724
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 8,381,550
<NUMBER-OF-SHARES-REDEEMED> 1,589,003
<SHARES-REINVESTED> 261,166
<NET-CHANGE-IN-ASSETS> 501,976,245
<ACCUMULATED-NII-PRIOR> 3,043,582
<ACCUMULATED-GAINS-PRIOR> 8,112,815
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 3,982,268
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 7,640,654
<AVERAGE-NET-ASSETS> 482,237,000
<PER-SHARE-NAV-BEGIN> 24.59
<PER-SHARE-NII> 0.05
<PER-SHARE-GAIN-APPREC> 3.55
<PER-SHARE-DIVIDEND> 0.13
<PER-SHARE-DISTRIBUTIONS> 0.29
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 27.77
<EXPENSE-RATIO> 1.34
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 817982
<NAME> Oppenheimer Quest Opportunity Value Fund-B
<SERIES>
<NUMBER> 3
<NAME> Oppenheimer Quest For Value Funds
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1996
<PERIOD-START> NOV-01-1995
<PERIOD-END> APR-30-1996
<INVESTMENTS-AT-COST> 956,525,493
<INVESTMENTS-AT-VALUE> 1,135,478,061
<RECEIVABLES> 14,344,872
<ASSETS-OTHER> 60,107
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,149,883,040
<PAYABLE-FOR-SECURITIES> 8,599,638
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 4,796,043
<TOTAL-LIABILITIES> 13,395,681
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 927,047,387
<SHARES-COMMON-STOCK> 15,357,738
<SHARES-COMMON-PRIOR> 8,945,500
<ACCUMULATED-NII-CURRENT> 2,083,720
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 28,403,684
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 178,952,568
<NET-ASSETS> 421,869,198
<DIVIDEND-INCOME> 6,230,946
<INTEREST-INCOME> 3,512,599
<OTHER-INCOME> 0
<EXPENSES-NET> 7,640,654
<NET-INVESTMENT-INCOME> 2,102,891
<REALIZED-GAINS-CURRENT> 28,451,799
<APPREC-INCREASE-CURRENT> 79,559,038
<NET-CHANGE-FROM-OPS> 110,113,728
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 693,117
<DISTRIBUTIONS-OF-GAINS> 2,813,903
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 6,890,128
<NUMBER-OF-SHARES-REDEEMED> 610,004
<SHARES-REINVESTED> 132,114
<NET-CHANGE-IN-ASSETS> 501,976,245
<ACCUMULATED-NII-PRIOR> 3,043,582
<ACCUMULATED-GAINS-PRIOR> 8,112,815
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 3,982,268
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 7,640,654
<AVERAGE-NET-ASSETS> 299,093,000
<PER-SHARE-NAV-BEGIN> 24.33
<PER-SHARE-NII> 0.04
<PER-SHARE-GAIN-APPREC> 3.46
<PER-SHARE-DIVIDEND> 0.07
<PER-SHARE-DISTRIBUTIONS> 0.29
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 27.47
<EXPENSE-RATIO> 2.40
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 817982
<NAME> Oppenheimer Quest Opportunity Value Fund-C
<SERIES>
<NUMBER> 3
<NAME> Oppenheimer Quest For Value Funds
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1996
<PERIOD-START> NOV-01-1995
<PERIOD-END> APR-30-1996
<INVESTMENTS-AT-COST> 956,525,493
<INVESTMENTS-AT-VALUE> 1,135,478,061
<RECEIVABLES> 14,344,872
<ASSETS-OTHER> 60,107
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,149,883,040
<PAYABLE-FOR-SECURITIES> 8,599,638
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 4,796,043
<TOTAL-LIABILITIES> 13,395,681
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 927,047,387
<SHARES-COMMON-STOCK> 3,789,625
<SHARES-COMMON-PRIOR> 2,040,801
<ACCUMULATED-NII-CURRENT> 2,083,720
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 28,403,684
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 178,952,568
<NET-ASSETS> 103,959,926
<DIVIDEND-INCOME> 6,230,946
<INTEREST-INCOME> 3,512,599
<OTHER-INCOME> 0
<EXPENSES-NET> 7,640,654
<NET-INVESTMENT-INCOME> 2,102,891
<REALIZED-GAINS-CURRENT> 28,451,799
<APPREC-INCREASE-CURRENT> 79,559,038
<NET-CHANGE-FROM-OPS> 110,113,728
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 168,846
<DISTRIBUTIONS-OF-GAINS> 633,303
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,924,767
<NUMBER-OF-SHARES-REDEEMED> 206,664
<SHARES-REINVESTED> 30,721
<NET-CHANGE-IN-ASSETS> 501,976,245
<ACCUMULATED-NII-PRIOR> 3,043,582
<ACCUMULATED-GAINS-PRIOR> 8,112,815
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 3,982,268
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 7,640,654
<AVERAGE-NET-ASSETS> 70,733,000
<PER-SHARE-NAV-BEGIN> 24.31
<PER-SHARE-NII> 0.05
<PER-SHARE-GAIN-APPREC> 3.44
<PER-SHARE-DIVIDEND> 0.08
<PER-SHARE-DISTRIBUTIONS> 0.29
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 27.43
<EXPENSE-RATIO> 2.41
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 817982
<NAME> Oppenheimer Quest Small Cap Value Fund-A
<SERIES>
<NUMBER> 2
<NAME> Oppenheimer Quest for Value Funds
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1996
<PERIOD-START> NOV-01-1995
<PERIOD-END> APR-30-1996
<INVESTMENTS-AT-COST> 137,828,949
<INVESTMENTS-AT-VALUE> 159,233,925
<RECEIVABLES> 1,883,503
<ASSETS-OTHER> 8,285
<OTHER-ITEMS-ASSETS> 242,299
<TOTAL-ASSETS> 161,368,012
<PAYABLE-FOR-SECURITIES> 643,926
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,491,623
<TOTAL-LIABILITIES> 2,135,549
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 131,762,589
<SHARES-COMMON-STOCK> 6,540,232
<SHARES-COMMON-PRIOR> 6,717,417
<ACCUMULATED-NII-CURRENT> 212,380
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 5,852,518
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 21,404,976
<NET-ASSETS> 120,786,619
<DIVIDEND-INCOME> 966,114
<INTEREST-INCOME> 721,492
<OTHER-INCOME> 0
<EXPENSES-NET> 1,459,942
<NET-INVESTMENT-INCOME> 227,664
<REALIZED-GAINS-CURRENT> 6,489,695
<APPREC-INCREASE-CURRENT> 12,817,635
<NET-CHANGE-FROM-OPS> 19,534,994
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 758,970
<DISTRIBUTIONS-OF-GAINS> 6,609,655
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 985,614
<NUMBER-OF-SHARES-REDEEMED> 1,582,995
<SHARES-REINVESTED> 420,196
<NET-CHANGE-IN-ASSETS> 10,417,465
<ACCUMULATED-NII-PRIOR> 817,130
<ACCUMULATED-GAINS-PRIOR> 7,814,746
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 756,654
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,459,942
<AVERAGE-NET-ASSETS> 117,864,000
<PER-SHARE-NAV-BEGIN> 17.31
<PER-SHARE-NII> 0.02
<PER-SHARE-GAIN-APPREC> 2.24
<PER-SHARE-DIVIDEND> 0.11
<PER-SHARE-DISTRIBUTIONS> 0.99
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 18.47
<EXPENSE-RATIO> 1.80
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 817982
<NAME> Oppenheimer Quest Small Cap Value Fund-B
<SERIES>
<NUMBER> 2
<NAME> Oppenheimer Quest for Value Funds
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1996
<PERIOD-START> NOV-01-1995
<PERIOD-END> APR-30-1996
<INVESTMENTS-AT-COST> 137,828,949
<INVESTMENTS-AT-VALUE> 159,233,925
<RECEIVABLES> 1,883,503
<ASSETS-OTHER> 8,285
<OTHER-ITEMS-ASSETS> 242,299
<TOTAL-ASSETS> 161,368,012
<PAYABLE-FOR-SECURITIES> 643,926
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,491,623
<TOTAL-LIABILITIES> 2,135,549
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 131,762,589
<SHARES-COMMON-STOCK> 1,432,853
<SHARES-COMMON-PRIOR> 1,369,612
<ACCUMULATED-NII-CURRENT> 212,380
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 5,852,518
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 21,404,976
<NET-ASSETS> 26,190,991
<DIVIDEND-INCOME> 966,114
<INTEREST-INCOME> 721,492
<OTHER-INCOME> 0
<EXPENSES-NET> 1,459,942
<NET-INVESTMENT-INCOME> 227,664
<REALIZED-GAINS-CURRENT> 6,489,695
<APPREC-INCREASE-CURRENT> 12,817,635
<NET-CHANGE-FROM-OPS> 19,534,994
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 44,361
<DISTRIBUTIONS-OF-GAINS> 1,335,390
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 191,455
<NUMBER-OF-SHARES-REDEEMED> 207,008
<SHARES-REINVESTED> 78,794
<NET-CHANGE-IN-ASSETS> 10,417,465
<ACCUMULATED-NII-PRIOR> 817,130
<ACCUMULATED-GAINS-PRIOR> 7,814,746
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 756,654
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,459,942
<AVERAGE-NET-ASSETS> 24,351,000
<PER-SHARE-NAV-BEGIN> 17.11
<PER-SHARE-NII> 0.05
<PER-SHARE-GAIN-APPREC> 2.15
<PER-SHARE-DIVIDEND> 0.04
<PER-SHARE-DISTRIBUTIONS> 0.99
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 18.28
<EXPENSE-RATIO> 2.29
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 817982
<NAME> Oppenheimer Quest Small Cap Value Fund-C
<SERIES>
<NUMBER> 2
<NAME> Oppenheimer Quest for Value Funds
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1996
<PERIOD-START> NOV-01-1995
<PERIOD-END> APR-30-1996
<INVESTMENTS-AT-COST> 137,828,949
<INVESTMENTS-AT-VALUE> 159,233,925
<RECEIVABLES> 1,883,503
<ASSETS-OTHER> 8,285
<OTHER-ITEMS-ASSETS> 242,299
<TOTAL-ASSETS> 161,368,012
<PAYABLE-FOR-SECURITIES> 643,926
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,491,623
<TOTAL-LIABILITIES> 2,135,549
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 131,762,589
<SHARES-COMMON-STOCK> 671,527
<SHARES-COMMON-PRIOR> 529,946
<ACCUMULATED-NII-CURRENT> 212,380
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 5,852,518
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 21,404,976
<NET-ASSETS> 12,254,853
<DIVIDEND-INCOME> 966,114
<INTEREST-INCOME> 721,492
<OTHER-INCOME> 0
<EXPENSES-NET> 1,459,942
<NET-INVESTMENT-INCOME> 227,664
<REALIZED-GAINS-CURRENT> 6,489,695
<APPREC-INCREASE-CURRENT> 12,817,635
<NET-CHANGE-FROM-OPS> 19,534,994
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 29,083
<DISTRIBUTIONS-OF-GAINS> 506,878
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 197,277
<NUMBER-OF-SHARES-REDEEMED> 86,796
<SHARES-REINVESTED> 31,100
<NET-CHANGE-IN-ASSETS> 10,417,465
<ACCUMULATED-NII-PRIOR> 817,130
<ACCUMULATED-GAINS-PRIOR> 7,814,746
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 756,654
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,459,942
<AVERAGE-NET-ASSETS> 9,809,000
<PER-SHARE-NAV-BEGIN> 17.11
<PER-SHARE-NII> 0.05
<PER-SHARE-GAIN-APPREC> 2.14
<PER-SHARE-DIVIDEND> 0.06
<PER-SHARE-DISTRIBUTIONS> 0.99
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 18.25
<EXPENSE-RATIO> 2.63
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 817982
<NAME> Oppenheimer Quest Growth & Income Value Fund-A
<SERIES>
<NUMBER> 9
<NAME> Oppenheimer Quest for Value Funds
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1996
<PERIOD-START> NOV-01-1995
<PERIOD-END> APR-30-1996
<INVESTMENTS-AT-COST> 49,852,032
<INVESTMENTS-AT-VALUE> 54,189,070
<RECEIVABLES> 715,952
<ASSETS-OTHER> 5,647
<OTHER-ITEMS-ASSETS> 612,406
<TOTAL-ASSETS> 55,523,075
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 171,633
<TOTAL-LIABILITIES> 171,633
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 46,567,671
<SHARES-COMMON-STOCK> 3,686,810
<SHARES-COMMON-PRIOR> 3,395,059
<ACCUMULATED-NII-CURRENT> 110,670
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 4,336,063
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 4,337,038
<NET-ASSETS> 43,304,977
<DIVIDEND-INCOME> 326,575
<INTEREST-INCOME> 702,945
<OTHER-INCOME> 0
<EXPENSES-NET> 502,490
<NET-INVESTMENT-INCOME> 527,030
<REALIZED-GAINS-CURRENT> 4,289,850
<APPREC-INCREASE-CURRENT> 1,606,351
<NET-CHANGE-FROM-OPS> 6,423,231
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 402,697
<DISTRIBUTIONS-OF-GAINS> 1,723,233
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 347,860
<NUMBER-OF-SHARES-REDEEMED> 241,465
<SHARES-REINVESTED> 185,356
<NET-CHANGE-IN-ASSETS> 8,818,083
<ACCUMULATED-NII-PRIOR> 62,229
<ACCUMULATED-GAINS-PRIOR> 2,211,414
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 217,210
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 502,490
<AVERAGE-NET-ASSETS> 40,797,000
<PER-SHARE-NAV-BEGIN> 10.92
<PER-SHARE-NII> 0.12
<PER-SHARE-GAIN-APPREC> 1.32
<PER-SHARE-DIVIDEND> 0.11
<PER-SHARE-DISTRIBUTIONS> 0.50
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 11.75
<EXPENSE-RATIO> 1.81
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 817982
<NAME> Oppenheimer Quest Growth & Income Value Fund-B
<SERIES>
<NUMBER> 9
<NAME> Oppenheimer Quest for Value Funds
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1996
<PERIOD-START> NOV-01-1995
<PERIOD-END> APR-30-1996
<INVESTMENTS-AT-COST> 49,852,032
<INVESTMENTS-AT-VALUE> 54,189,070
<RECEIVABLES> 715,952
<ASSETS-OTHER> 5,647
<OTHER-ITEMS-ASSETS> 612,406
<TOTAL-ASSETS> 55,523,075
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 171,633
<TOTAL-LIABILITIES> 171,633
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 46,567,671
<SHARES-COMMON-STOCK> 843,560
<SHARES-COMMON-PRIOR> 700,417
<ACCUMULATED-NII-CURRENT> 110,670
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 4,336,063
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 4,337,038
<NET-ASSETS> 9,868,641
<DIVIDEND-INCOME> 326,575
<INTEREST-INCOME> 702,945
<OTHER-INCOME> 0
<EXPENSES-NET> 502,490
<NET-INVESTMENT-INCOME> 527,030
<REALIZED-GAINS-CURRENT> 4,289,850
<APPREC-INCREASE-CURRENT> 1,606,351
<NET-CHANGE-FROM-OPS> 6,423,231
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 62,827
<DISTRIBUTIONS-OF-GAINS> 359,598
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 179,730
<NUMBER-OF-SHARES-REDEEMED> 72,992
<SHARES-REINVESTED> 36,405
<NET-CHANGE-IN-ASSETS> 8,818,083
<ACCUMULATED-NII-PRIOR> 62,229
<ACCUMULATED-GAINS-PRIOR> 2,211,414
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 217,210
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 502,490
<AVERAGE-NET-ASSETS> 8,783,000
<PER-SHARE-NAV-BEGIN> 10.88
<PER-SHARE-NII> 0.10
<PER-SHARE-GAIN-APPREC> 1.30
<PER-SHARE-DIVIDEND> 0.08
<PER-SHARE-DISTRIBUTIONS> 0.50
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 11.70
<EXPENSE-RATIO> 2.54
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 817982
<NAME> Oppenheimer Quest Growth & Income Value Fund-C
<SERIES>
<NUMBER> 9
<NAME> Oppenheimer Quest for Value Funds
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1996
<PERIOD-START> NOV-01-1995
<PERIOD-END> APR-30-1996
<INVESTMENTS-AT-COST> 49,852,032
<INVESTMENTS-AT-VALUE> 54,189,070
<RECEIVABLES> 715,952
<ASSETS-OTHER> 5,647
<OTHER-ITEMS-ASSETS> 612,406
<TOTAL-ASSETS> 55,523,075
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 171,633
<TOTAL-LIABILITIES> 171,633
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 46,567,671
<SHARES-COMMON-STOCK> 186,038
<SHARES-COMMON-PRIOR> 167,833
<ACCUMULATED-NII-CURRENT> 110,670
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 4,336,063
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 4,337,038
<NET-ASSETS> 2,177,824
<DIVIDEND-INCOME> 326,575
<INTEREST-INCOME> 702,945
<OTHER-INCOME> 0
<EXPENSES-NET> 502,490
<NET-INVESTMENT-INCOME> 527,030
<REALIZED-GAINS-CURRENT> 4,289,850
<APPREC-INCREASE-CURRENT> 1,606,351
<NET-CHANGE-FROM-OPS> 6,423,231
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 13,065
<DISTRIBUTIONS-OF-GAINS> 82,370
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 32,321
<NUMBER-OF-SHARES-REDEEMED> 22,454
<SHARES-REINVESTED> 8,338
<NET-CHANGE-IN-ASSETS> 8,818,083
<ACCUMULATED-NII-PRIOR> 62,229
<ACCUMULATED-GAINS-PRIOR> 2,211,414
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 217,210
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 502,490
<AVERAGE-NET-ASSETS> 1,953,000
<PER-SHARE-NAV-BEGIN> 10.89
<PER-SHARE-NII> 0.10
<PER-SHARE-GAIN-APPREC> 1.30
<PER-SHARE-DIVIDEND> 0.08
<PER-SHARE-DISTRIBUTIONS> 0.50
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 11.71
<EXPENSE-RATIO> 2.55
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
