This is especially important with Excel, which uses several function keys for shortcuts.
These keys (F1 - F12) are called function keys.
(2) as standard function keys.
The setting is a checkbox labeled “Use all F1, F2, etc.
keys as standard function keys unchecked”.
When unchecked, function keys will perform as described in #1 above.
For example, you could unassign F9 from Mission Control so that F9 can be available in other applications.