Lore Sjöberg on online bank account security questions. I like the third guy's strategy.
When I was originally faced with these sorts of things, I figured they were ridiculous and useless, so I would answer "jdwhfwhfwopd" to What was the name of your high school? and so on. This worked until the first time I forgot my password and found I couldn't get a new one and had to own up to my "cleverness" to a bank employee on the phone.
Now I answer them for reals, keeping to an internal manual of style in hopes that I'll spell things correctly. (Did I say "St. John Neumann" or "Saint John Neumann" or "st john neumann high school" or...?)