Yes, but it doesn't really apply in this case as the function generator output will be at such a high level as to swamp any noise or hum, plus it's a very low impedance source, which will prevent pickup.
Not for a function generator.
Basically function generators aren't intended to be low distortion, or used for audio testing - it's a crude general purpose waveform generator.
Usually they generate square and triangle waveforms, with the triangle then been crudely shaped to approximate a sine wave.
For an audio generator, you would generate a sine wave (wien bridge etc.) for a very low distortion (0.01% wouldn't be uncommon), and then overdrive and clip that to generate a square wave.
Hi Nigel
I agree. Would you believe that one of the best sine wave audio generators I use to this day is my old HP 201C (lovely image attached). There being the "wien bridge etc". Then I have a collection of old Wave Tek function generators, an old Data Pulse pretty good pulse generator plus an old HP 3311A small basic function generator. Quite the family.
Ron