Final answer:
Level 1 cache is the type of processor memory located on the processor chip (processor die).
Step-by-step explanation:
The type of processor memory that is located on the processor chip (processor die) is called Level 1 cache. Level 1 cache, or L1 cache, is the closest and fastest memory to the CPU, providing quick access to frequently used data and instructions. It is typically integrated directly onto the processor chip for faster processing speed.