Exhibit 10(b)(1)
         Section 302 N-CSR Certification of Principal Executive Officer




                                IDEX MUTUAL FUNDS
                      FOR THE PERIOD ENDING APRIL 30, 2003
                      FORM N-CSR CERTIFICATION PURSUANT TO
                      SECTION 302 OF THE SARBANES-OXLEY ACT

I, Brian C. Scott, certify that:

     1.   I have reviewed the report on Form N-CSR of IDEX Mutual Funds;

     2.   Based on my knowledge, this report does not contain any untrue
          statement of a material fact or omit to state a material fact
          necessary to make the statements made, in light of the circumstances
          under which such statements were made, not misleading with respect to
          the period covered by this report;

     3.   Based on my knowledge, the financial statements, and other financial
          information included in this report, fairly present in all material
          respects the fund's financial condition, results of operations,
          changes in net assets, and cash flows (if the financial statements are
          required to include a statement of cash flows) of the registrant as
          of, and for, the periods presented in this report;

     4.   The registrant's other certifying officers and I are responsible for
          establishing and maintaining disclosure controls and procedures (as
          defined in rule 30a-2(c) under the Investment Company Act of 1940) for
          the registrant and have:

          a.   designed such disclosure controls and procedures to ensure that
               material information relating to the registrant, including its
               consolidated subsidiaries, is made known to us by others within
               those entities, particularly during the period in which this
               report is being prepared;

          b.   evaluated the effectiveness of the registrant's disclosure
               controls and procedures as of a date within 90 days prior to the
               filing date of this report (the "Evaluation Date"); and

          c.   presented in this report our conclusions about the effectiveness
               of the disclosure controls and procedures based on our evaluation
               as of the Evaluation Date;

     5.   The registrant's other certifying officers and I have disclosed, based
          on our most recent evaluation, to the registrant's auditors and the
          audit committee of the registrant's board of directors (or persons
          performing equivalent functions):

          a.   all significant deficiencies in the design or operation of
               internal controls which could adversely affect the registrant's
               ability to record, process, summarize and report financial data
               and have identified for the registrant's auditors any material
               weaknesses in internal controls; and

          b.   any fraud, whether or not material, that involves management or
               other employees who have a significant role in the registrant's
               internal controls; and

     6.   The registrant's other certifying officers and I have indicated in
          this report whether or not there were significant changes in internal
          controls or in other factors that could significantly affect internal
          controls subsequent to the date of our most recent evaluation,
          including any corrective actions regarding significant deficiencies
          and material weaknesses.


Date: July 1, 2003                By: /s/ Brian C. Scott
                                   --------------------------------------------
                                   Title: President and Chief Executive Officer