Kinda. The theology is that (I was taught this and this was also taught by their leaders) is that those born LDS to temple married parents (called being ‘born in the covenant’ or BIC) were ‘more valiant’ in the pre-existance. This means that they were ‘better’ than some of the other spirits.
Converts, were less valiant than those born in the LDS church. Of course the younger you converted, the better you must have been.
There is this idea of earning ‘points’, the more faithful you are to the LDS church, the more ‘good works’ you do, attending the temple, doing your genealogy, bringing in converts, serving a faithful mission, etc. results in you achieving a higher level of ‘exaltation’ or ‘progression’ towards Godhood.
Those BIC have an advantage simply because they have a head start and knew the ‘truth’ earlier.
Hope this helps.
Yep I was one of the valiant in the pre-existence.
I used to wonder what I had done to deserve being born into an LDS home.....I guess I’m still wondering what I did to deserve such punishment.