Q: How do I reset My forgotten security questions?

Welcome to the Apple Community.

Start here, and reset your password, you will receive an email with your new password, then go to manage your account > Password and Security and change your security questions.

If that doesn't help you might try contacting Apple through iTunes Store Support

does not help. you cannot reset security questions if forgotten because required to answer those same forgotten security questions in order to get to that option

You can reset them if you had put, and verified, a rescue email address on the account. If you hadn't done that you will have to contact Support in your country to get them reset : If you forgot the answers to your Apple ID security questions - Apple Support

as mentioned, i did not have that option and I do have a rescue email setup. The error I get is "You have made too many attempts to answer your security questions."

Try clicking on the link in my above reply, there are instructions on it for how to reset your questions, including if you can't reset them yourself.