Loading SWFs into same Loader and Removed from Stage

I was told that if you load a new SWF into a loader that has an existing SWF that the second SWF will replace the object(the first SWF) in the loader and in the display list.

Does this mean that the first SWF is removed from the stage once the second SWF is loaded? I am asking because I would like to know if my this.addEventListener(Event.REMOVED_FROM_STAGE, removedFromStageHandler1); in the first SWF will fire once the second SWF is loaded.