Also another question: (can someone just check my reasoning)

Answer is D.
My reasoning: As the magnet falls through the loop, the magnetic is pointing upwards (north to south). So the flux is increasing upwards as it falls, thus to oppose this the loop sets up a magnetic field downwards, using RHG rule, the current is clockwise.
As the magnet falls through, the magnetic field is going upwards (out from north and into south). So the flux is decreasing upwards as it falls out, so the loop sets up a magnetic field upwards to compensate for this loss. Thus the current goes anticlockwise.
Is my reasoning right?
The reason I'm just confirming is because I do it the vector way but I thought it'd be good if I can understand this method as well.
Thanks!