Yes, but not what you would call “traditional” replacement theology (covenant relationship with Christians superceding covenant relationship with Jews).
Essentially, their restorationist theology is “replacement theology.” LDS teach that the LDS church is the only true church on earth…in fact Orson Pratt, brother of Romney ancestor Parley P. Pratt, taught that the Roman Catholic church is the “whore of Babylon” and the Protestant church is one of her “harlot” daughters.
Here is “restorationist” theology according to LDS “Scripture”: (Pearl of Great Price, Joseph Smith - History, verses 18-19): I asked the personages who stood above me in the light, which of all the sects was right — and which I should join. I was answered that I must join NONE of them, for they were ALL wrong, and the personage who addressed me said that ALL their creeds were an abomination in His sight: that those professors were ALL corrupt... " (Joseph Smith)
LDS cannot just take or leave for this is authoritative "Scripture"; this verse originates as the supposed description of the very foundation of the church--the First Vision of Joseph Smith. One of the top 4 teachings explained by every LDS missionary is the doctrine of the universal apostasy of the historic Christian church (they teach this right alongside their key doctrine of "restoration"). Any true-believing LDS candidate (not necessarily a Jack Mormon candidate) who approaches us historic Christians is saying: "You are an apostate; I am a restorationist built upon the complete ashes of your faith. Your creeds--all of them--are an 'abomination' before God. Your professing believers are 'corrupt.'”
Not what I would call very “inspiring” of a candidate-leader. (Not only does this label us as “apostates” of the historic Christian faith, but it makes Jesus out to be a false prophet…Jesus said the “gates of hell would not prevail against His church” –Matthew 16:18…LDS teach the church was prevailed over by the gates of hell for at least 1500 years.)
Don’t we already have threads on FR for discussing religion?
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We, the General Assembly of Virginia do enact that no man shall be compelled to frequent or support any religious worship, place or ministry whatsoever, nor shall be enforced, restrained, molested or burthened in his body or his goods, nor shall otherwise suffer, on account of his religious opinions or belief; but that all men shall be free to profess, and by argument to maintain, their opinions in matters of religion, and that the same shall in no wise diminish, enlarge, or affect their civil capacities.
~~Thomas Jefferson~~