A character who gets stabbed in the femoral artery is going to die in maybe five minutes. This is like having a character who gets their aorta or carotid artery cut, they’re pretty dead. They’ll also pass out in less than a minute, so they won’t be awake while they are dying. This is important.
Wiki Answers it should be noted that when they’re discussing medical treatment here they mean the ER and into surgery. Bleeding from an artery is difficult to stop because of it’s closely tied to the heart. So, yes, you die really fast.
You want to check the answer with a doctor, of course, and see if they or a Paramedic have any information on how to keep someone alive.