Depends on what you mean by "read". In short I would say "no," though they do read parts of it. I find they believe what they want to believe, and back it all up through confirmation bias and cognitive dissonance. The best way to tear apart their arguments is to get them to actually compare an analyse what they say, which has to be done in such a fashion that they do it themselves instead of having it directly pointed at them (I've done this through asking questions, putting them in the role of "teacher", as I've found it to be quite effective).
I think a good way to look at it is compare the bible to a large puzzle, with the different pieces (generally verses, but sometimes blocks of verses) scattered in a large pile. Instead of going through the bible and carefully putting it together as it should go, they pick up the pieces that appeal to them, mash them together, and completely ignore not only the other pieces but also that it fits together so poorly that Picasso's portraits look like high definition photographs.
It also doesn't help matters that this is how churches have done it for millennia, and that not only do they always encourage people to do the same, they insist it's with the same pieces. Kinda explains why there're several thousand christian denominations (not counting the number of non-denominational people that also can't agree).
The best way to get a christian to leave their faith is to get them to actually read and analyse the bible. It might be where most of their stuff comes from, but it also tears it apart so hard that there has yet to be a better deconversion tool devised.
