I just reset my security questions with ease. Follow these steps:
1. Go to https://expresslane.apple.com/GetproductgroupList.action and from All Products & Services choose iTunes > iTunes Store
2. Select the topic Account Management > Forgotten Apple ID security questions, then click Continue
3. You will get a suggested article that explains how to send an email to your recovery email. If you don't have a recovery email set up you can click Talk to Apple Support Now.
4. Schedule a call with Apple support and have an available iOS device with you.
5. To reset the security questions all I had to do was use the Apple ID to set up Find my iPhone and the Apple representative sent an authentication code to my device, which I then verified with him.
6. After verifying the authentication code sent to the device set up with Find my iPhone I had to login to appleid.apple.com, go to Password and Security, then click Temporary Support PIN and provide the PIN you are given to the Apple rep and they will reset your security questions.
7. Log out and log back into appleid.apple.com, click Password and Security, enter your new security questions and answers.