Do I need to update my bios to install a fster supported processor?

Check the mobo Manual to see what cpu's it supports. They almost always list them. First off, you have to make sure the cpu has the same socket version as the mobo. IE, socket 775, or something else. Second, if the motherboard manual doesn't list the cpu, but it has the same socket, then sometimes they put out updated bios which will then support that cpu. You have to do some research, or, give the forum the specifics and we can help.