Which of the following statements are true regarding the nuclear reactor?
Let's do it one by one.
Control rods are the neutron absorbers. Elements like Cadmium and Graphite have a property of absorbing fast neutrons.
Neutrons are the one who keeps the chain reaction going in a reactor, so if the neutrons are absorbed, there will be no further reaction. So we can say that control rods are used as a switch in a nuclear reactor.
Moderators, as their name suggest are used to "moderate" the energy of a neutron. Why do we need to do that?
Simple. The neutrons emitted as the product of fission of U-236 are fast neutrons. Their energy range is of tens of MeVs. While a U-235 can only absorb a slow neutron, whose energy range is few eVs. So we need to reduce the energy of a neutron and moderators do it.
A fast neutron makes several collisions with the bulk of a moderator (like heavy water, Beryllium etc.) and slows down and hence is reduced to get absorbed by a U-235.
Moderators are not the coolants. No doubt a huge amount of heat is generated in the process as we have already discussed but in a nuclear power plant that heat is used to vaporize water and hence to create steam which on high pressure is used to rotate the turbine to produce electricity.