An electromagnet loses its magnetism when the current is switched off.
Hence, the given statement is true.
When current is 'switched on ' and switched off' in a coil, a current is induced in another coil kept near it . What is this phenomenon known as ?
When an electic current is passed through any wire, a magnetic field is produced around it . Then why an electric iron connecting cable does not attract nearby iron objects when electric current is switched on through it ?