Q. BIOS is a:
  1. Non-volatile firmware
  2. Volatile firmware
  3. Software stored on a small memory chip on motherboard
Which of the above is / are correct?

Answer: Only 1 and 3
Notes: BIOS, which stands for Basic Input Output System, is software stored on a small memory chip on the motherboard. The BIOS firmware is non-volatile, meaning that its settings are saved and recoverable even after power has been removed from the device.