USAA LIFE INVESTMENT TRUST
NSAR-B, 1997-02-27
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<PAGE>      PAGE  1
000 B000000 12/31/96
000 C000000 0000927823
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 USAA LIFE INVESTMENT TRUST
001 B000000 811-8672
001 C000000 2104988000
002 A000000 9800 FREDERICKSBURG RD
002 B000000 SAN ANTONIO
002 C000000 TX
002 D010000 78288
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  5
007 C010100  1
007 C020100 USAA LIFE VARIABLE ANNUITY MONEY MARKET FUND
007 C030100 N
007 C010200  2
007 C020200 USAA LIFE VARIABLE ANNUITY INCOME FUND
007 C030200 N
007 C010300  3
007 C020300 USAA LIFE VARIABLE ANNUITY GROWTH & INCOME FD
007 C030300 N
007 C010400  4
007 C020400 USAA LIFE VARIABLE ANNUITY WORLD GROWTH FUND
007 C030400 N
007 C010500  5
007 C020500 USAA LIFE VARIABLE ANNUITY DIVERSIFIED ASSETS
007 C030500 N
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
008 A00AA01 USAA INVESTMENT MANAGEMENT COMPANY
008 B00AA01 A
008 C00AA01 801-34462
008 D01AA01 SAN ANTONIO
008 D02AA01 TX
008 D03AA01 78288
011 A00AA01 USAA INVESTMENT MANAGEMENT COMPANY
011 B00AA01 8-41241
011 C01AA01 SAN ANTONIO
<PAGE>      PAGE  2
011 C02AA01 TX
011 C03AA01 78288
012 A00AA01 USAA LIFE INSURANCE COMPANY
012 B00AA01 84-
012 C01AA01 SAN ANTONIO
012 C02AA01 TX
012 C03AA01 78288
013 A00AA01 KPMG PEAT MARWICK, LLP
013 B01AA01 SAN ANTONIO
013 B02AA01 TX
013 B03AA01 78205
013 B04AA01 1505
014 A00AA01 USAA INVESTMENT MANAGEMENT COMPANY
014 B00AA01 8-05475
015 A00AA01 STATE STREET BANK AND TRUST CO
015 B00AA01 C
015 C01AA01 BOSTON
015 C02AA01 MA
015 C03AA01 02105
015 E01AA01 X
015 A00AA02 CITIBANK, N.A.
015 B00AA02 S
015 C01AA02 UNKNOWN
015 D01AA02 ARGENTINA
015 E04AA02 X
015 A00AA03 WESTPAC BANKING CORPORATION
015 B00AA03 S
015 C01AA03 UNKNOWN
015 D01AA03 AUSTRALIA
015 E04AA03 X
015 A00AA04 GIROCREDIT BANK
015 B00AA04 S
015 C01AA04 UNKNOWN
015 D01AA04 AUSTRIA
015 E04AA04 X
015 A00AA05 STANDARD CHARTERED BANK
015 B00AA05 S
015 C01AA05 UNKNOWN
015 D01AA05 BANGLADESH
015 E04AA05 X
015 A00AA06 GENERALE BANK
015 B00AA06 S
015 C01AA06 UNKNOWN
015 D01AA06 BELGIUM
015 E04AA06 X
015 A00AA07 BARCLAYS BANK OF BOTSWANA
015 B00AA07 S
015 C01AA07 UNKNOWN
015 D01AA07 BOTSWANA
015 E04AA07 X
015 A00AA08 CITIBANK, N.A.
<PAGE>      PAGE  3
015 B00AA08 S
015 C01AA08 UNKNOWN
015 D01AA08 BRAZIL
015 E04AA08 X
015 A00AA09 CANADA TRUSTCO
015 B00AA09 S
015 C01AA09 UNKNOWN
015 D01AA09 CANADA
015 E04AA09 X
015 A00AA10 CITIBANK, N.A.
015 B00AA10 S
015 C01AA10 UNKNOWN
015 D01AA10 CHILE
015 E04AA10 X
015 A00AA11 THE HONG KONG AND SHANGHAI BANKING CORP. LMTD
015 B00AA11 S
015 C01AA11 UNKNOWN
015 D01AA11 CHINA
015 E04AA11 X
015 A00AA12 CITITRUST COLOMBIA S.A.
015 B00AA12 S
015 C01AA12 UNKNOWN
015 D01AA12 COLOMBIA
015 E04AA12 X
015 A00AA13 BARCLAYS BANK PLC
015 B00AA13 S
015 C01AA13 UNKNOWN
015 D01AA13 CYPRUS
015 E04AA13 X
015 A00AA14 CESKOSLOVENSKA OBCHONDNI BANKA A.S.
015 B00AA14 S
015 C01AA14 UNKNOWN
015 D01AA14 CZECH REPUBLIC
015 E04AA14 X
015 A00AA15 DEN DANSKE BANK
015 B00AA15 S
015 C01AA15 UNKNOWN
015 D01AA15 DENMARK
015 E04AA15 X
015 A00AA16 CITIBANK, N.A.
015 B00AA16 S
015 C01AA16 UNKNOWN
015 D01AA16 EQUADOR
015 E04AA16 X
015 A00AA17 NATIONAL BANK OF EGYPT
015 B00AA17 S
015 C01AA17 UNKNOWN
015 D01AA17 EGYPT
015 E04AA17 X
015 A00AA18 MERITA BANK LIMITED
015 B00AA18 S
<PAGE>      PAGE  4
015 C01AA18 UNKNOWN
015 D01AA18 FINLAND
015 E04AA18 X
015 A00AA19 BANQUE PARIBAS
015 B00AA19 S
015 C01AA19 UNKNOWN
015 D01AA19 FRANCE
015 E04AA19 X
015 A00AA20 DRESDNER BANK AG
015 B00AA20 S
015 C01AA20 UNKNOWN
015 D01AA20 GERMANY
015 E04AA20 X
015 A00AA21 BARCLAYS BANK OF GHANA LIMITED
015 B00AA21 S
015 C01AA21 UNKNOWN
015 D01AA21 GHANA
015 E04AA21 X
015 A00AA22 NATIONAL BANK OF GREECE S.A.
015 B00AA22 S
015 C01AA22 UNKNOWN
015 D01AA22 GREECE
015 E04AA22 X
015 A00AA23 STANDARD CHARTERED BANK
015 B00AA23 S
015 C01AA23 UNKNOWN
015 D01AA23 HONG KONG
015 E04AA23 X
015 A00AA24 CITIBANK BUDAPEST RT.
015 B00AA24 S
015 C01AA24 UNKNOWN
015 D01AA24 HUNGARY
015 E04AA24 X
015 A00AA25 DEUTSCHE BANK AG
015 B00AA25 S
015 C01AA25 UNKNOWN
015 D01AA25 INDIA
015 E04AA25 X
015 A00AA26 STANDARD CHARTERED BANK
015 B00AA26 S
015 C01AA26 UNKNOWN
015 D01AA26 INDONESIA
015 E04AA26 X
015 A00AA27 BANK OF IRELAND
015 B00AA27 S
015 C01AA27 UNKNOWN
015 D01AA27 IRELAND
015 E04AA27 X
015 A00AA28 BANK HAPOALIM B.M.
015 B00AA28 S
015 C01AA28 UNKNOWN
<PAGE>      PAGE  5
015 D01AA28 ISRAEL
015 E04AA28 X
015 A00AA29 MORGAN GUARANTY TRUST COMPANY
015 B00AA29 S
015 C01AA29 UNKNOWN
015 D01AA29 ITALY
015 E04AA29 X
015 A00AA30 SOCIETE GENERALE DE BANQUES EN COTE D'IVOIRE
015 B00AA30 S
015 C01AA30 UNKNOWN
015 D01AA30 IVORY COAST
015 E04AA30 X
015 A00AA31 THE DAIWA BANK, LIMITED
015 B00AA31 S
015 C01AA31 UNKNOWN
015 D01AA31 JAPAN
015 E04AA31 X
015 A00AA32 THE FUJI BANK, LIMITED
015 B00AA32 S
015 C01AA32 UNKNOWN
015 D01AA32 JAPAN
015 E04AA32 X
015 A00AA33 THE SUMITOMO TRUST & BANKING CO., LTD.
015 B00AA33 S
015 C01AA33 UNKNOWN
015 D01AA33 JAPAN
015 E04AA33 X
015 A00AA34 THE BRITISH BANK OF THE MIDDLE EAST
015 B00AA34 S
015 C01AA34 UNKNOWN
015 D01AA34 JORDAN
015 E04AA34 X
015 A00AA35 BARCLAYS BANK OF KENYA LTD
015 B00AA35 S
015 C01AA35 UNKNOWN
015 D01AA35 KENYA
015 E04AA35 X
015 A00AA36 SEOULBANK
015 B00AA36 S
015 C01AA36 UNKNOWN
015 D01AA36 REPUBLIC OF KOREA
015 E04AA36 X
015 A00AA37 STANDARD CHARTERED BANK
015 B00AA37 S
015 C01AA37 UNKNOWN
015 D01AA37 MALASIA
015 E04AA37 X
015 A00AA38 THE HONGKONG AND SHANGHAI
015 B00AA38 S
015 C01AA38 UNKNOWN
015 D01AA38 MAURITIUS
<PAGE>      PAGE  6
015 E04AA38 X
015 A00AA39 CITIBANK, N.A.
015 B00AA39 S
015 C01AA39 UNKNOWN
015 D01AA39 MEXICO
015 E04AA39 X
015 A00AA40 BANQUE COMMERCIALE DU MAROC
015 B00AA40 S
015 C01AA40 UNKNOWN
015 D01AA40 MOROCCO
015 E04AA40 X
015 A00AA41 MEESPIERSON N.V.
015 B00AA41 S
015 C01AA41 UNKNOWN
015 D01AA41 NETHERLANDS
015 E04AA41 X
015 A00AA42 ANZ BANKING GROUP
015 B00AA42 S
015 C01AA42 UNKNOWN
015 D01AA42 NEW ZEALAND
015 E04AA42 X
015 A00AA43 CHRISTIANIA BANK OG KREDITKASSE
015 B00AA43 S
015 C01AA43 UNKNOWN
015 D01AA43 NORWAY
015 E04AA43 X
015 A00AA44 DUETSCHE BANK AG
015 B00AA44 S
015 C01AA44 UNKNOWN
015 D01AA44 PAKISTAN
015 E04AA44 X
015 A00AA45 CITIBANK, N.A.
015 B00AA45 S
015 C01AA45 UNKNOWN
015 D01AA45 PERU
015 E04AA45 X
015 A00AA46 STANDARD CHARTERED BANK
015 B00AA46 S
015 C01AA46 UNKNOWN
015 D01AA46 PHILIPPINES
015 E04AA46 X
015 A00AA47 STATE STREET LONDON LTD.
015 B00AA47 S
015 C01AA47 UNKNOWN
015 D01AA47 EUROCLEAR
015 E04AA47 X
015 A00AA48 STATE STREET LONDON LTD.
015 B00AA48 S
015 C01AA48 UNKNOWN
015 D01AA48 CEDEL
015 E04AA48 X
<PAGE>      PAGE  7
015 A00AA49 CITIBANK POLAND S.A.
015 B00AA49 S
015 C01AA49 UNKNOWN
015 D01AA49 POLAND
015 E04AA49 X
015 A00AA50 BANCO COMMERCIAL PORTUGUES
015 B00AA50 S
015 C01AA50 UNKNOWN
015 D01AA50 PORTUGAL
015 E04AA50 X
015 A00AA51 THE DEVELOPMENT BANK OF SINGAPORE LTD.
015 B00AA51 S
015 C01AA51 UNKNOWN
015 D01AA51 SINGAPORE
015 E04AA51 X
015 A00AA52 CESKOSLOVENSKA OBCHODNA BANKA A.S.
015 B00AA52 S
015 C01AA52 UNKNOWN
015 D01AA52 SLOVAK REPUBLIC
015 E04AA52 X
015 A00AA53 STANDARD BANK OF SOUTH AFRICA LIMITED
015 B00AA53 S
015 C01AA53 UNKNOWN
015 D01AA53 SOUTH AFRICA
015 E04AA53 X
015 A00AA54 BANCO SANTANDER, S.A.
015 B00AA54 S
015 C01AA54 UNKNOWN
015 D01AA54 SPAIN
015 E04AA54 X
015 A00AA55 THE HONGKONG AND SHANGHAI BANKING
015 B00AA55 S
015 C01AA55 UNKNOWN
015 D01AA55 SRI LANKA
015 E04AA55 X
015 A00AA56 BARCLAYS BANK OF SWAZILAND LIMITED
015 B00AA56 S
015 C01AA56 UNKNOWN
015 D01AA56 SWAZILAND
015 E04AA56 X
015 A00AA57 SKANDINAVISKA ENSKILDA BANKEN
015 B00AA57 S
015 C01AA57 UNKNOWN
015 D01AA57 SWEDEN
015 E04AA57 X
015 A00AA58 UNION BANK OF SWITZERLAND
015 B00AA58 S
015 C01AA58 UNKNOWN
015 D01AA58 SWITZERLAND
015 E04AA58 X
015 A00AA59 CENTRAL TRUST OF CHINA
<PAGE>      PAGE  8
015 B00AA59 S
015 C01AA59 UNKNOWN
015 D01AA59 TAIWAN-R.O.C.
015 E04AA59 X
015 A00AA60 STANDARD CHARTERED BANK
015 B00AA60 S
015 C01AA60 UNKNOWN
015 D01AA60 THAILAND
015 E04AA60 X
015 A00AA61 CITIBANK, N.A.
015 B00AA61 S
015 C01AA61 UNKNOWN
015 D01AA61 TURKEY
015 E04AA61 X
015 A00AA62 STATE STREET BANK AND TRUST COMPANY
015 B00AA62 S
015 C01AA62 UNKNOWN
015 D01AA62 UNITED KINGDOM
015 E04AA62 X
015 A00AA63 CITIBANK, N.A.
015 B00AA63 S
015 C01AA63 UNKNOWN
015 D01AA63 URUGUAY
015 E04AA63 X
015 A00AA64 CITIBANK, N.A.
015 B00AA64 S
015 C01AA64 UNKNOWN
015 D01AA64 VENEZUELA
015 E04AA64 X
015 A00AA65 BARCLAYS BANK OF ZAMBIA LIMITED
015 B00AA65 S
015 C01AA65 UNKNOWN
015 D01AA65 ZAMBIA
015 E04AA65 X
015 A00AA66 BARCLAYS BANK OF ZIMBABWE
015 B00AA66 S
015 C01AA66 UNKNOWN
015 D01AA66 ZIMBABWE
015 E04AA66 X
015 A00AA67 THE HONG KONG AND SHANGHAI BANKING CORP. LTD.
015 B00AA67 S
015 C01AA67 UNKNOWN
015 D01AA67 INDIA
015 E04AA67 X
015 A00AA68 BANQUE PARIBAS
015 B00AA68 S
015 C01AA68 UNKNOWN
015 D01AA68 ITALY
015 E04AA68 X
018  00AA00 Y
019 A00AA00 Y
<PAGE>      PAGE  9
019 B00AA00   38
019 C00AA00 USAAINVMCO
020 A000001 UBS SECURITIES, INC.
020 B000001 13-2932996
020 C000001     10
020 A000002 BRIDGE TRADING COMPANY
020 B000002 43-1450530
020 C000002      8
020 A000003 HSBC JAMES CAPEL
020 B000003 13-2650272
020 C000003      8
020 A000004 CREDIT LYONNAIS SECURITIES (USA) INC
020 B000004 13-2602298
020 C000004      7
020 A000005 GOLDMAN, SACHS & CO.
020 B000005 13-5108880
020 C000005      6
020 A000006 USAA BROKERAGE SERVICES
020 B000006 74-1664189
020 C000006      6
020 A000007 BARCLAYS DE ZOETE WEDD SECURITIES INC.
020 B000007 13-3551367
020 C000007      6
020 A000008 S.G. WARBURG & CO. INC.
020 B000008 13-3340045
020 C000008      6
020 A000009 PAINEWEBBER, INCORPORATED
020 B000009 13-2638166
020 C000009      6
020 A000010 DEUTSCHE MORGAN GRENFEL/C.J. LAWRENCE INC.
020 B000010 13-2730828
020 C000010      5
021  000000      156
022 A000001 FIRST CHICAGO CAPITAL MARKETS, INC.
022 B000001 36-3595942
022 C000001    555160
022 D000001      1667
022 A000002 CHASE SECURITIES INC.
022 B000002 13-3112953
022 C000002    244998
022 D000002      3429
022 A000003 GOLDMAN SACHS & CO.
022 B000003 13-5108880
022 C000003    151595
022 D000003      1127
022 A000004 PRUDENTIAL SECURITIES INCORPORATED
022 B000004 22-2347336
022 C000004    148667
022 D000004      1884
022 A000005 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
022 B000005 13-5674085
<PAGE>      PAGE  10
022 C000005     51964
022 D000005     15652
022 A000006 CS FIRST BOSTON CORPORATION
022 B000006 13-5659485
022 C000006     32773
022 D000006      2013
022 A000007 LEHMAN BROTHERS INC.
022 B000007 13-2518466
022 C000007     34063
022 D000007         0
022 A000008 FORD MOTOR CREDIT COMPANY
022 B000008 38-1612444
022 C000008     24705
022 D000008      2299
022 A000009 PRUDENTIAL FUNDING CORP.
022 B000009 22-2231168
022 C000009     18100
022 D000009      2289
022 A000010 GENERAL ELECTRIC CAPITAL CORP.
022 B000010 13-1500700
022 C000010     17155
022 D000010      1272
023 C000000    1355551
023 D000000      46308
024  00AA00 N
025 D00AA01       0
025 D00AA02       0
025 D00AA03       0
025 D00AA04       0
025 D00AA05       0
025 D00AA06       0
025 D00AA07       0
025 D00AA08       0
026 A000000 N
026 B000000 Y
026 C000000 Y
026 D000000 Y
026 E000000 N
026 F000000 Y
026 G010000 N
026 G020000 N
026 H000000 N
027  000000 Y
029  00AA00 N
030 A00AA00      0
030 B00AA00  0.00
030 C00AA00  0.00
031 A00AA00      0
031 B00AA00      0
032  00AA00      0
033  00AA00      0
<PAGE>      PAGE  11
034  00AA00 N
035  00AA00      0
036 B00AA00      0
037  00AA00 N
038  00AA00      0
039  00AA00 N
040  00AA00 N
041  00AA00 N
045  00AA00 Y
046  00AA00 N
047  00AA00 Y
048  00AA00  0.200
048 A01AA00        0
048 A02AA00 0.000
048 B01AA00        0
048 B02AA00 0.000
048 C01AA00        0
048 C02AA00 0.000
048 D01AA00        0
048 D02AA00 0.000
048 E01AA00        0
048 E02AA00 0.000
048 F01AA00        0
048 F02AA00 0.000
048 G01AA00        0
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        0
048 K02AA00 0.000
049  00AA00 N
050  00AA00 N
051  00AA00 N
052  00AA00 N
053 A00AA00 Y
053 B00AA00 Y
053 C00AA00 N
054 A00AA00 Y
054 B00AA00 Y
054 C00AA00 Y
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 N
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 Y
<PAGE>      PAGE  12
054 K00AA00 N
054 L00AA00 N
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 N
055 A00AA00 N
055 B00AA00 N
056  00AA00 Y
057  00AA00 N
058 A00AA00 N
059  00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
061  00AA00        0
077 A000000 Y
077 B000000 Y
080 A00AA00 AETNA CASUALTY AND SURETY COMPANY
080 C00AA00     9000
081 A00AA00 Y
081 B00AA00  33
082 A00AA00 N
082 B00AA00        0
083 A00AA00 N
083 B00AA00        0
084 A00AA00 N
084 B00AA00        0
085 A00AA00 Y
085 B00AA00 N
028 A010100      3638
028 A020100        52
028 A030100         0
028 A040100      4691
028 B010100      3785
028 B020100        47
028 B030100         0
028 B040100      2958
028 C010100      4423
028 C020100        53
028 C030100         0
028 C040100      3231
028 D010100      5799
028 D020100        57
028 D030100         0
028 D040100      4154
028 E010100      2764
028 E020100        58
028 E030100         0
028 E040100      4282
028 F010100      3365
028 F020100        55
028 F030100         0
<PAGE>      PAGE  13
028 F040100      5654
028 G010100     23774
028 G020100       322
028 G030100         0
028 G040100     24970
028 H000100         0
042 A000100   0
042 B000100   0
042 C000100   0
042 D000100   0
042 E000100   0
042 F000100   0
042 G000100   0
042 H000100   0
043  000100      0
044  000100      0
062 A000100 Y
062 B000100   0.0
062 C000100  28.9
062 D000100   0.0
062 E000100   0.0
062 F000100   0.0
062 G000100   0.0
062 H000100   0.0
062 I000100  41.1
062 J000100   0.0
062 K000100   0.0
062 L000100  32.2
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  12
063 B000100  0.0
064 A000100 Y
064 B000100 N
066 A000100 N
067  000100 N
068 A000100 N
068 B000100 N
069  000100 N
070 A010100 Y
070 A020100 N
070 B010100 N
070 B020100 N
070 C010100 N
070 C020100 N
070 D010100 N
070 D020100 N
<PAGE>      PAGE  14
070 E010100 N
070 E020100 N
070 F010100 N
070 F020100 N
070 G010100 N
070 G020100 N
070 H010100 N
070 H020100 N
070 I010100 N
070 I020100 N
070 J010100 Y
070 J020100 N
070 K010100 Y
070 K020100 N
070 L010100 Y
070 L020100 N
070 M010100 N
070 M020100 N
070 N010100 Y
070 N020100 N
070 O010100 Y
070 O020100 N
070 P010100 Y
070 P020100 Y
070 Q010100 N
070 Q020100 N
070 R010100 N
070 R020100 N
071 A000100         0
071 B000100         0
071 C000100         0
071 D000100    0
072 A000100 12
072 B000100      624
072 C000100        0
072 D000100        0
072 E000100        0
072 F000100       23
072 G000100        0
072 H000100        0
072 I000100        0
072 J000100       40
072 K000100        0
072 L000100        0
072 M000100        4
072 N000100        0
072 O000100        0
072 P000100        0
072 Q000100       30
072 R000100       30
072 S000100       15
<PAGE>      PAGE  15
072 T000100        0
072 U000100        0
072 V000100        0
072 W000100        0
072 X000100      142
072 Y000100      102
072 Z000100      584
072AA000100        0
072BB000100        0
072CC010100        0
072CC020100        0
072DD010100      584
072DD020100        0
072EE000100        0
073 A010100   0.0512
073 A020100   0.0000
073 B000100   0.0000
073 C000100   0.0000
074 A000100        0
074 B000100        0
074 C000100    11492
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       77
074 M000100        0
074 N000100    11569
074 O000100        0
074 P000100        4
074 Q000100        0
074 R010100        0
074 R020100        0
074 R030100        0
074 R040100      320
074 S000100        0
074 T000100    11245
074 U010100    11245
074 U020100        0
074 V010100     1.00
074 V020100     0.00
074 W000100   0.9998
074 X000100        1
074 Y000100        0
075 A000100    11436
075 B000100        0
076  000100     0.00
<PAGE>      PAGE  16
028 A010200       579
028 A020200         0
028 A030200         0
028 A040200       181
028 B010200       424
028 B020200         0
028 B030200         0
028 B040200       534
028 C010200       290
028 C020200         0
028 C030200         0
028 C040200       143
028 D010200       222
028 D020200         0
028 D030200         0
028 D040200      1350
028 E010200       199
028 E020200         0
028 E030200         0
028 E040200      6181
028 F010200       188
028 F020200      1883
028 F030200         0
028 F040200       133
028 G010200      1902
028 G020200      1883
028 G030200         0
028 G040200      8522
028 H000200         0
042 A000200   0
042 B000200   0
042 C000200   0
042 D000200   0
042 E000200   0
042 F000200   0
042 G000200   0
042 H000200   0
043  000200      0
044  000200      0
062 A000200 Y
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   5.5
062 J000200   0.0
062 K000200   0.0
062 L000200   0.0
<PAGE>      PAGE  17
062 M000200  21.9
062 N000200  57.2
062 O000200   0.0
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063 B000200 12.3
064 A000200 N
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066 A000200 N
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068 A000200 N
068 B000200 N
069  000200 N
070 A010200 Y
070 A020200 N
070 B010200 N
070 B020200 N
070 C010200 N
070 C020200 N
070 D010200 N
070 D020200 N
070 E010200 N
070 E020200 N
070 F010200 N
070 F020200 N
070 G010200 N
070 G020200 N
070 H010200 N
070 H020200 N
070 I010200 N
070 I020200 N
070 J010200 Y
070 J020200 N
070 K010200 Y
070 K020200 N
070 L010200 Y
070 L020200 N
070 M010200 N
070 M020200 N
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070 O010200 Y
070 O020200 N
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<PAGE>      PAGE  18
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<PAGE>      PAGE  19
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<PAGE>      PAGE  20
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068 A000300 N
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070 B020300 N
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070 D020300 N
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070 E020300 N
070 F010300 N
070 F020300 N
070 G010300 N
070 G020300 N
070 H010300 N
070 H020300 N
070 I010300 N
070 I020300 N
070 J010300 Y
070 J020300 N
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<PAGE>      PAGE  21
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070 M020300 N
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070 Q020300 N
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<PAGE>      PAGE  22
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<PAGE>      PAGE  23
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<PAGE>      PAGE  24
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<PAGE>      PAGE  25
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<PAGE>      PAGE  26
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<PAGE>      PAGE  27
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<PAGE>      PAGE  28
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<PAGE>      PAGE  29
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SIGNATURE   EDWIN L. ROSANE                              
TITLE       PRESIDENT & CEO     
 


<TABLE> <S> <C>

<PAGE>
<ARTICLE> 6
<SERIES>
   <NUMBER> 1
   <NAME> USAA LIFE VA MONEY MARKET FUND
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<S>                             <C>                      
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</TABLE>

<TABLE> <S> <C>

<PAGE>
 
<ARTICLE> 6
<SERIES>
   <NUMBER> 2
   <NAME> USAA LIFE VA INCOME FUND
<MULTIPLIER> 1,000
       
<S>                             <C>                
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<EXPENSE-RATIO>                                 .35
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<AVG-DEBT-PER-SHARE>                              0
        


</TABLE>

<TABLE> <S> <C>

<PAGE>
 
<ARTICLE> 6
<SERIES>
   <NUMBER> 3
   <NAME> USAA LIFE VA GROWTH AND INCOME FUND
<MULTIPLIER> 1,000
       
<S>                             <C>                
<PERIOD-TYPE>                   YEAR          
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<EQUALIZATION>                                    0
<DISTRIBUTIONS-OF-INCOME>                     (914)
<DISTRIBUTIONS-OF-GAINS>                    (1,166)
<DISTRIBUTIONS-OTHER>                             0
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<PER-SHARE-GAIN-APPREC>                        2.79
<PER-SHARE-DIVIDEND>                         (0.26)
<PER-SHARE-DISTRIBUTIONS>                    (0.33)
<RETURNS-OF-CAPITAL>                              0
<PER-SHARE-NAV-END>                           15.06
<EXPENSE-RATIO>                                 .35
<AVG-DEBT-OUTSTANDING>                            0
<AVG-DEBT-PER-SHARE>                              0
        


</TABLE>

<TABLE> <S> <C>

<PAGE>
 
<ARTICLE> 6
<SERIES>
   <NUMBER> 4
   <NAME> USAA LIFE VA WORLD GROWTH FUND
<MULTIPLIER> 1,000
       
<S>                             <C>                
<PERIOD-TYPE>                   YEAR               
<FISCAL-YEAR-END>                       DEC-31-1996
<PERIOD-END>                            DEC-31-1996
<INVESTMENTS-AT-COST>                        31,635
<INVESTMENTS-AT-VALUE>                       37,490
<RECEIVABLES>                                   112
<ASSETS-OTHER>                                   11
<OTHER-ITEMS-ASSETS>                              0
<TOTAL-ASSETS>                               37,613
<PAYABLE-FOR-SECURITIES>                         55
<SENIOR-LONG-TERM-DEBT>                           0
<OTHER-ITEMS-LIABILITIES>                        23
<TOTAL-LIABILITIES>                              78
<SENIOR-EQUITY>                                   0
<PAID-IN-CAPITAL-COMMON>                     31,337
<SHARES-COMMON-STOCK>                         2,940
<SHARES-COMMON-PRIOR>                         2,226
<ACCUMULATED-NII-CURRENT>                        48
<OVERDISTRIBUTION-NII>                            0
<ACCUMULATED-NET-GAINS>                         295
<OVERDISTRIBUTION-GAINS>                          0
<ACCUM-APPREC-OR-DEPREC>                      5,855
<NET-ASSETS>                                 37,535
<DIVIDEND-INCOME>                               543
<INTEREST-INCOME>                               111
<OTHER-INCOME>                                    0
<EXPENSES-NET>                                (203)
<NET-INVESTMENT-INCOME>                         451
<REALIZED-GAINS-CURRENT>                      1,769
<APPREC-INCREASE-CURRENT>                     3,623
<NET-CHANGE-FROM-OPS>                         5,843
<EQUALIZATION>                                    0
<DISTRIBUTIONS-OF-INCOME>                     (449)
<DISTRIBUTIONS-OF-GAINS>                    (1,428)
<DISTRIBUTIONS-OTHER>                             0
<NUMBER-OF-SHARES-SOLD>                         642
<NUMBER-OF-SHARES-REDEEMED>                    (75)
<SHARES-REINVESTED>                             147
<NET-CHANGE-IN-ASSETS>                       12,829
<ACCUMULATED-NII-PRIOR>                           0
<ACCUMULATED-GAINS-PRIOR>                         0
<OVERDISTRIB-NII-PRIOR>                           0
<OVERDIST-NET-GAINS-PRIOR>                        0
<GROSS-ADVISORY-FEES>                            62
<INTEREST-EXPENSE>                                0
<GROSS-EXPENSE>                                 254
<AVERAGE-NET-ASSETS>                         31,180
<PER-SHARE-NAV-BEGIN>                         11.10
<PER-SHARE-NII>                                0.18
<PER-SHARE-GAIN-APPREC>                        2.16
<PER-SHARE-DIVIDEND>                         (0.16)
<PER-SHARE-DISTRIBUTIONS>                    (0.51)
<RETURNS-OF-CAPITAL>                              0
<PER-SHARE-NAV-END>                           12.77
<EXPENSE-RATIO>                                 .65
<AVG-DEBT-OUTSTANDING>                            0
<AVG-DEBT-PER-SHARE>                              0
        


</TABLE>

<TABLE> <S> <C>

<PAGE>
 
<ARTICLE> 6
<SERIES>
   <NUMBER> 5
   <NAME> USAA LIFE VA DIVERSIFIED FUND 
<MULTIPLIER> 1,000
       
<S>                             <C>                
<PERIOD-TYPE>                   YEAR          
<FISCAL-YEAR-END>                       DEC-31-1996
<PERIOD-END>                            DEC-31-1996
<INVESTMENTS-AT-COST>                        24,157
<INVESTMENTS-AT-VALUE>                       29,849
<RECEIVABLES>                                   580
<ASSETS-OTHER>                                    1
<OTHER-ITEMS-ASSETS>                              0
<TOTAL-ASSETS>                               30,430
<PAYABLE-FOR-SECURITIES>                          0
<SENIOR-LONG-TERM-DEBT>                           0
<OTHER-ITEMS-LIABILITIES>                        40
<TOTAL-LIABILITIES>                              40
<SENIOR-EQUITY>                                   0
<PAID-IN-CAPITAL-COMMON>                     23,740
<SHARES-COMMON-STOCK>                         2,347
<SHARES-COMMON-PRIOR>                         2,200
<ACCUMULATED-NII-CURRENT>                         3
<OVERDISTRIBUTION-NII>                            0
<ACCUMULATED-NET-GAINS>                         955
<OVERDISTRIBUTION-GAINS>                          0
<ACCUM-APPREC-OR-DEPREC>                      5,692
<NET-ASSETS>                                 30,390
<DIVIDEND-INCOME>                               605
<INTEREST-INCOME>                               878
<OTHER-INCOME>                                    0
<EXPENSES-NET>                                (108)
<NET-INVESTMENT-INCOME>                       1,375
<REALIZED-GAINS-CURRENT>                      1,197
<APPREC-INCREASE-CURRENT>                     1,737
<NET-CHANGE-FROM-OPS>                         4,309
<EQUALIZATION>                                    0
<DISTRIBUTIONS-OF-INCOME>                   (1,372)
<DISTRIBUTIONS-OF-GAINS>                      (234)
<DISTRIBUTIONS-OTHER>                             0
<NUMBER-OF-SHARES-SOLD>                         679
<NUMBER-OF-SHARES-REDEEMED>                   (655)
<SHARES-REINVESTED>                             123
<NET-CHANGE-IN-ASSETS>                        4,079
<ACCUMULATED-NII-PRIOR>                           0
<ACCUMULATED-GAINS-PRIOR>                       (8) 
<OVERDISTRIB-NII-PRIOR>                           0
<OVERDIST-NET-GAINS-PRIOR>                        0
<GROSS-ADVISORY-FEES>                            62
<INTEREST-EXPENSE>                                0
<GROSS-EXPENSE>                                 189
<AVERAGE-NET-ASSETS>                         30,742
<PER-SHARE-NAV-BEGIN>                         11.96
<PER-SHARE-NII>                                0.62
<PER-SHARE-GAIN-APPREC>                        1.10
<PER-SHARE-DIVIDEND>                         (0.62) 
<PER-SHARE-DISTRIBUTIONS>                    (0.11)
<RETURNS-OF-CAPITAL>                              0
<PER-SHARE-NAV-END>                           12.95
<EXPENSE-RATIO>                                 .35
<AVG-DEBT-OUTSTANDING>                            0
<AVG-DEBT-PER-SHARE>                              0
        


</TABLE>


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