Wikipedia says
Originally, BIOS firmware was stored in a ROM chip on the PC motherboard. In modern computer systems, the BIOS contents are stored on flash memory so it can be rewritten without removing the chip from the motherboard.
When BIOS is stored in either a ROM chip or a flash memory, does BIOS need to be loaded into main memory to be executed by CPU? Or can CPU execute BIOS directly in ROM or flash memory?