Here is the solution:
Since there could be instances where you entered in a parental code months ago, and now can't remember it or, you may have purchased a used XBOX, and you never knew the code to begin with here is how you can reset the parental controls lock:
From the XBOX dashboard screen, go to settings and then parental control.
When prompted for the password, perform the following sequence using the XBOX controller: X, Y, Left Trigger, X.
Enter in a new password, or disable parental control entirely.
The level adjustment under Parental Control dictates the strictness of the player. The system will playback games and movies rated at the level of the slider and below.