After I upgraded my iPad to iOS 6 I can not download apps. It requests 3 security question and then after it times out, not allow for purchase or download .
Settings>General>Reset (at the far bottom)>Reset All Settings
That will ALWAYS work for the "3 Security Questions - Timed Out problem". No data will be lost, but your network settings will be reset.
I have the exact same problem and resetting didn't work for me :-( I'm still looking for a solution.
Retrieving data ...