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I think the two that you have chosen are correct. 

The narrator is not always objective. They tell things from their own point of view. They include in that point of view their own make up like jealousy, rage, etc. They however can be relied upon to present the facts that they see, although sometimes as in some mysteries, some of the facts are withheld or disguised. 

If he knows future events, then perhaps a flashback or frame method is used. We hunger for him to tell the past so he can reveal "what happened" later on. Sometime this is true, but it is not the main function of the first person narrative. 

I think you've picked the right two.