What does "It's up there." mean exactly?

Question

I'm sorta getting the idea of what it means but what does it mean exactly?

For example:

#1:Is that the stupidest question you get asked?

#2:It's up there.

Answer 1

like, it's up high on the list.

like "is purple your favorite color?"

"it's high up on the list with green / the rest of them"

i don't know if that made sense :p

Answer 2

It's your own list either in your mind or that you have written down.

You might have a list oyour Top 10 songs, food, TV shows etc.