If I understand your question correctly about Timer, you want to know how Timer works. Right ? I didn't get your question correctly I apologize.
Timer can be two types, programmatic and automatic.
For Programmatic Timer, you inject TimerService in your Bean and create Timer programmatically using one of the 4 createTimer methods of TimerService.
When Bean instantiates and come to the point where it can create timer, it creates Timer instance and Timer executes timeout callback method as specified while creating timer.
For Automatic Timer, we can use @Scheduler. You can specify when you want to run a particular task in schedule. Timer gets created automatically.
Timer doesn't die with Bean. Once it gets created and bean dies still Timer can execute in the server.
Below URL has some more good information on timer.
Timers in EJB3
Thanks.