<PAGE> PAGE 1
000 A000000 12/31/98
000 C000000 0000883368
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 THE BLACKROCK INVESTMENT QUALITY TERM TRUST
001 B000000 811-6542
001 C000000 9733677530
002 A000000 GC3, 100 MULBERRY STREET, 9TH FLOOR
002 B000000 NEWARK
002 C000000 NJ
002 D010000 07102
002 D020000 4077
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 BLACKROCK FINANCIAL MANAGEMENT, INC.
008 B000001 A
008 C000001 801-32183
008 D010001 NEW YORK
008 D020001 NY
008 D030001 10154
010 A000001 PRUDENTIAL INVESTMENTS FUND MANAGEMENT LLC
010 B000001 811-31104
010 C010001 NEWARK
010 C020001 NJ
010 C030001 07102
010 C040001 4077
011 A000001 PRUDENTIAL SECURITIES INCORPORATED
011 B000001 8-27154
011 C010001 NEW YORK
011 C020001 NY
011 C030001 10292
011 A000002 A.G. EDWARDS & SONS, INC.
<PAGE> PAGE 2
011 B000002 8-13580
011 C010002 ST. LOUIS
011 C020002 MO
011 C030002 63103
011 A000003 KIDDER, PEABODY & CO., INC.
011 B000003 8-4831
011 C010003 NEW YORK
011 C020003 NY
011 C030003 10005
011 A000004 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
011 B000004 8-7221
011 C010004 NEW YORK
011 C020004 NY
011 C030004 10281
011 A000005 PAINEWEBBER INCORPORATED
011 B000005 8-16267
011 C010005 NEW YORK
011 C020005 NY
011 C030005 10019
011 A000006 ADVEST INC.
011 B000006 8-21409
011 C010006 HARTFORD
011 C020006 CT
011 C030006 06103
011 A000007 GRUNTAL & CO., INC.
011 B000007 8-31022
011 C010007 NEW YORK
011 C020007 NY
011 C030007 10005
011 A000008 LEFF MASON WOOD WALKER, INC.
011 B000008 8-00000
011 C010008 BALTIMORE
011 C020008 MD
011 C030008 21202
011 A000009 MORGAN KEEGAN & CO.,INC.
011 B000009 8-15001
011 C010009 MEMPHIS
011 C020009 TN
011 C030009 38103
011 A000010 RAYMOND JAMES & ASSOCIATES, INC.
011 B000010 8-10999
011 C010010 ST.PETERSBURG
011 C020010 FL
011 C030010 33308
011 A000011 CROWELL, WEEDON & CO.
011 B000011 8-3710
011 C010011 LOS ANGELES
011 C020011 CA
011 C030011 90017
012 A000001 STATE STREET BANK & TRUST COMPANY
012 B000001 84-0000000
<PAGE> PAGE 3
012 C010001 NORTH QUINCY
012 C020001 MA
012 C030001 02171
013 A000001 DELOITTE & TOUCHE LLP
013 B010001 NEW YORK
013 B020001 NY
013 B030001 10281
013 B040001 1434
015 A000001 STATE STREET BANK & TRUST COMPANY
015 B000001 C
015 C010001 NORTH QUINCY
015 C020001 MA
015 C030001 02171
015 E010001 X
018 000000 Y
019 A000000 Y
019 B000000 28
019 C000000 BLACKROCK.
020 A000001 MERRILL LYNCH, PIERCE,FENNER & SMITH, INC.
020 B000001 13-5674085
020 C000001 56
020 A000002 SALOMON SMITH BARNEY
020 B000002 13-1912900
020 C000002 11
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 67
022 A000001 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
022 B000001 13-5674085
022 C000001 698442
022 D000001 1008797
022 A000002 AUBREY G. LANSTON & CO.
022 B000002 13-5552129
022 C000002 971133
022 D000002 14556
022 A000003 FREDDIE MAC SS & TG
022 B000003 52-0904874
022 C000003 154897
022 D000003 132140
022 A000004 SALOMON BROTHERS
022 B000004 13-3082694
022 C000004 446524
022 D000004 78646
022 A000005 COMMERZBANK CAPITAL MARKETS CORP.
022 B000005 13-3439358
<PAGE> PAGE 4
022 C000005 337233
022 D000005 99238
022 A000006 PAINEWEBBER, INC.
022 B000006 13-2638166
022 C000006 224857
022 D000006 44196
022 A000007 J.P. MORGAN SECURITIES
022 B000007 13-3224016
022 C000007 160934
022 D000007 1425
022 A000008 DEUTSCHE BANK
022 B000008 13-2944988
022 C000008 39816
022 D000008 90047
022 A000009 LEHMAN BROTHERS
022 B000009 13-2518466
022 C000009 49328
022 D000009 49199
022 A000010 CANTOR FITZGERALD
022 B000010 13-3680187
022 C000010 26437
022 D000010 65712
023 C000000 3555757
023 D000000 1728753
024 000000 Y
025 A000001 MERRILL LYNCH, PIERCE, FENNER & SMITH
025 B000001 13-5674085
025 C000001 D
025 D000001 12145
025 A000002 SALOMON BROTHERS
025 B000002 13-3082694
025 C000002 D
025 D000002 3942
025 A000003 PAINEWEBBER, INC.
025 B000003 13-2638166
025 C000003 D
025 D000003 2752
025 D000004 0
025 D000005 0
025 D000006 0
025 D000007 0
025 D000008 0
026 A000000 N
026 B000000 N
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
<PAGE> PAGE 5
027 000000 N
028 A010000 0
028 A020000 0
028 A030000 0
028 A040000 0
028 B010000 0
028 B020000 0
028 B030000 0
028 B040000 0
028 C010000 0
028 C020000 0
028 C030000 0
028 C040000 0
028 D010000 0
028 D020000 0
028 D030000 0
028 D040000 0
028 E010000 0
028 E020000 0
028 E030000 0
028 E040000 0
028 F010000 0
028 F020000 0
028 F030000 0
028 F040000 0
028 G010000 0
028 G020000 0
028 G030000 0
028 G040000 0
028 H000000 0
030 A000000 0
030 B000000 0.00
030 C000000 0.00
031 A000000 0
031 B000000 0
032 000000 0
033 000000 0
035 000000 0
036 B000000 0
038 000000 0
042 A000000 0
042 B000000 0
042 C000000 0
042 D000000 0
042 E000000 0
042 F000000 0
042 G000000 0
042 H000000 0
043 000000 0
044 000000 0
045 000000 Y
<PAGE> PAGE 6
046 000000 N
047 000000 Y
048 000000 0.600
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
054 A000000 Y
054 B000000 Y
054 C000000 N
054 D000000 N
054 E000000 N
054 F000000 N
054 G000000 N
054 H000000 Y
054 I000000 N
054 J000000 Y
054 K000000 N
054 L000000 N
054 M000000 N
054 N000000 N
054 O000000 N
055 A000000 N
055 B000000 N
056 000000 Y
057 000000 N
058 A000000 N
060 A000000 Y
<PAGE> PAGE 7
060 B000000 Y
061 000000 0
062 A000000 Y
062 B000000 0.0
062 C000000 2.4
062 D000000 1.1
062 E000000 0.0
062 F000000 0.0
062 G000000 0.0
062 H000000 0.0
062 I000000 0.0
062 J000000 0.0
062 K000000 0.0
062 L000000 0.0
062 M000000 10.3
062 N000000 68.7
062 O000000 7.0
062 P000000 40.5
062 Q000000 11.2
062 R000000 0.5
063 A000000 0
063 B000000 2.9
064 A000000 N
064 B000000 N
066 A000000 N
067 000000 N
068 A000000 N
068 B000000 N
069 000000 N
070 A010000 Y
070 A020000 Y
070 B010000 N
070 B020000 N
070 C010000 Y
070 C020000 Y
070 D010000 N
070 D020000 N
070 E010000 Y
070 E020000 Y
070 F010000 N
070 F020000 N
070 G010000 Y
070 G020000 N
070 H010000 N
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 Y
070 J020000 Y
070 K010000 N
070 K020000 N
<PAGE> PAGE 8
070 L010000 Y
070 L020000 Y
070 M010000 N
070 M020000 N
070 N010000 Y
070 N020000 N
070 O010000 Y
070 O020000 Y
070 P010000 Y
070 P020000 N
070 Q010000 N
070 Q020000 N
070 R010000 Y
070 R020000 Y
071 A000000 547936
071 B000000 529155
071 C000000 490402
071 D000000 106
072 A000000 12
072 B000000 27460
072 C000000 0
072 D000000 0
072 E000000 0
072 F000000 2129
072 G000000 426
072 H000000 0
072 I000000 23
072 J000000 89
072 K000000 0
072 L000000 95
072 M000000 80
072 N000000 0
072 O000000 98
072 P000000 0
072 Q000000 0
072 R000000 38
072 S000000 15
072 T000000 0
072 U000000 0
072 V000000 0
072 W000000 98
072 X000000 3091
072 Y000000 0
072 Z000000 24369
072AA000000 19811
072BB000000 12583
072CC010000 0
072CC020000 6379
072DD010000 20245
072DD020000 0
072EE000000 0
<PAGE> PAGE 9
073 A010000 0.5500
073 A020000 0.0000
073 B000000 0.0000
073 C000000 0.0000
074 A000000 0
074 B000000 3941
074 C000000 8516
074 D000000 484584
074 E000000 0
074 F000000 0
074 G000000 0
074 H000000 0
074 I000000 1702
074 J000000 14512
074 K000000 0
074 L000000 6469
074 M000000 117117
074 N000000 636841
074 O000000 107495
074 P000000 220
074 Q000000 0
074 R010000 105869
074 R020000 66544
074 R030000 1776
074 R040000 2966
074 S000000 0
074 T000000 351971
074 U010000 36811
074 U020000 0
074 V010000 9.56
074 V020000 0.00
074 W000000 0.0000
074 X000000 767
074 Y000000 189463
075 A000000 0
075 B000000 353745
076 000000 8.81
077 A000000 Y
077 B000000 Y
077 C000000 N
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 Y
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
<PAGE> PAGE 10
077 O000000 N
077 P000000 N
077 Q010000 Y
077 Q020000 N
077 Q030000 N
078 000000 N
080 A000000 VIGILANT INSURANCE COMPANY
080 C000000 16950
081 A000000 Y
081 B000000 28
082 A000000 N
082 B000000 0
083 A000000 N
083 B000000 0
084 A000000 N
084 B000000 0
085 A000000 Y
085 B000000 N
086 A010000 36811
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
087 A010000 COMMON STOCK
087 A020000 09247J102
087 A030000 BQT
088 A000000 N
088 B000000 N
088 C000000 N
088 D000000 N
SIGNATURE OTHNEIL ROSE
TITLE TECHNICAL
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICL6
<CIK>
<NAMETHE BLACKROCK INVESTMENT QUALITY TERM TRUST INC.
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 492,754,807
<INVESTMENTS-AT-VALUE> 498,742,752
<RECEIVABLES> 20,980,475
<ASSETS-OTHER> 117,117,312
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 636,840,539
<PAYABLE-FOR-SECURITIES> 107,494,848
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 177,374,833
<TOTAL-LIABILITIES> 284,869,681
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 344,713,700
<SHARES-COMMON-STOCK> 36,810,639
<SHARES-COMMON-PRIOR> 36,810,639
<ACCUMULATED-NII-CURRENT> 6,973,162
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (3,246,893)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 3,530,889
<NET-ASSETS> 351,970,858
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 27,460,272
<OTHER-INCOME> 0
<EXPENSES-NET> 3,091,286
<NET-INVESTMENT-INCOME> 24,368,986
<REALIZED-GAINS-CURRENT> 7,228,158
<APPREC-INCREASE-CURRENT> (6,378,656)
<NET-CHANGE-FROM-OPS> 25,218,488
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (20,245,529)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 4,972,959
<ACCUMULATED-NII-PRIOR> 2,751,355
<ACCUMULATED-GAINS-PRIOR> (10,475,051)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,128,764
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3,091,286
<AVERAGE-NET-ASSETS> 353,745,000
<PER-SHARE-NAV-BEGIN> 9.43
<PER-SHARE-NII> 0.66
<PER-SHARE-GAIN-APPREC> 0.02
<PER-SHARE-DIVIDEND> (0.55)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 9.56
<EXPENSE-RATIO> 0.85
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
For fiscal year ended (a) December 31, 1998
File number (c) 811-6542
SUB-ITEM 77J
Restatement of Capital Share Account
The BlackRock Investment Quality Term Trust accounts
for and reports distributions to shareholders in accordance
with the A.I.C.P.A.'s Statement of Position 93-2:
Determination, Disclosure, and Financial Statement
Presentation of Income, Capital Gain, and Return of Capital
Distributions by Investment Companies. The effect caused by
applying this statement during the fiscal year ended
December 31, 1998, was to decrease paid-in capital and
increase undistributed net investment income by $98,350 due
to certain expenses not being deductible for tax purposes.
Net investment income, net realized gains, and net assets
were not affected by this change.
INDEPENDENT AUDITORS' REPORT
To the Shareholders and Board of Directors of
The BlackRock Investment Quality Term Trust, Inc.:
In planning and performing our audit of the financial
statements of The BlackRock Investment Quality Term Trust,
Inc. (the "Fund") for the year ended December 31, 1998 (on
which we have issued our report dated February 12, 1999), we
considered its internal control, 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, and not to
provide assurance on the Fund's internal control.
The management of the Fund 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 any internal control,
misstatements due to errors or fraud may occur and not be
detected. Also, projections of any evaluation of internal
control to future periods are subject to the risk that the
internal control may become inadequate because of changes in
conditions or that the degree of compliance with policies or
procedures may deteriorate.
Our consideration of the Fund's internal control would not
necessarily disclose all matters in 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 components
does not reduce to a relatively low level the risk that
misstatements caused by errors or fraud 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 Fund's internal control and its operation, including
controls for safeguarding securities, that we consider to be
material weaknesses as defined above as of December 31,
1998.
This report is intended solely for the information and use
of management and the Board of Directors of The BlackRock
Investment Quality Term Trust, Inc. and is not intended to
be and should not be used by anyone other than these
specified parties.
February 12, 1999
