If you take a sim out of a iPhone what will happen, will it loose its memory?

If you take a sim out of a iPhone what will happen, will it loose its memory?

The sim holds the memory so no

It will likely develop Alzheimer's

No it won't. It just won't be able to make and receive calls and texts, nor use mobile data.
A SIM card holds very little information, so you won't loose anything unless you had transferred some contacts to the card.

Nothing, except of course it can't make calls/texts