What is the name of the high-speed memory placed between the CPU and RAM to reduce data access time?

Consider the following statements regarding computer memory: 1. RAM is used to store the BIOS. 2. Virtual memory is a part of ROM that temporarily stores inactive data from RAM. 3. DRAM (Dynamic RAM) needs to be refreshed periodically to retain data. Which of the above statements is/are correct?

Given below are two statements: Statement I: DRAM consists of a number of transistors and capacitors. Statement II: DRAM needs to be constantly refreshed. In light of the above statements, choose the correct answer from the options given below: