The magnetic field's lines of force exit the magnet from its north pole and enter its south pole. Permanent or hard magnets create their own magnetic field all the time. Temporary or soft magnets produce magnetic fields while in the presence of a magnetic field and for a short while after exiting the field.
Diamagnetic, Paramagnetic, and Ferromagnetic Materials. When a material is placed within a magnetic field, the magnetic forces of the material's electrons will be affected. This effect is known as Faraday's Law of Magnetic Induction. However, materials can react quite differently to the presence of an external magnetic field.