Want to rearrange the items in a bulleted list? Here’s a shortcut to make the job easier. Click on an item you want to move then press Alt+Shift+Up Arrow to move the item up in the list or Alt+Shift+Down Arrow to move the item down in the list.
Note that you do not need to select the line. You can use this shortcut with larger paragraphs as well, as Word automatically moves the entire paragraph up or down.