Go to https://expresslane.apple.com . Click 'More Products & Services'. Then click 'Apple ID'.
In the next page click 'Other Apple ID topics' then 'Forgotten Apple ID security questions'. Click 'Continue'. Choose an appropriate option in the next page.
I got the issue sorted after 5 days of frustration with Apple. Having said that, this was to protect my identity and account so I'm glad they are tough on their policies. I could only move forward because I had the serial numbers of the device I was trying to fix. All in all it is worth writing down your passwords and answers to questions in a safe place.