Which term describes a memory that is closer to the CPU and has faster access times?

The term that describes a memory that is closer to the CPU and has faster access times is cache. Cache memory is specifically designed to store frequently accessed data and instructions, allowing for quicker retrieval than other types of memory. Its proximity to the CPU enables it to significantly reduce latency when the processor needs to access data, which consequently enhances overall system performance.

Cache operates at much faster speeds compared to RAM, which, while also fast, is not as immediate as cache memory. ROM is used primarily for permanent storage of firmware and is not involved in the speed of access times relevant to active processes. Virtual memory, on the other hand, refers to a technique that uses disk space as an extension of RAM, which actually slows down access times compared to physical memory.