Depends on who you ask.
The FR MORMONs seem to parrot this line; and totally IGNORE any MORMON writings that SHOW all the things they NEED to DO to gain EXALTATION and many other perks in the MORMON religion.
Their definition of 'saved' also is NOT what Chrsitians believe it to be.
There are 3 levels of MORMON 'heaven' and, depending on their earthly WORKS, will determine where they will spend their time eternity.
Do Mormon’s believe that the only way to be saved is to “believe on the Lord Jesus Christ”.
We do believe that you have to believe on the Lord Jesus Christ to be saved. However, we don’t believe that belief alone, without effort on our part is sufficient.
As James said, “Thou believest that there is one God; thou doest well: the devils also believe, and tremble” (James 2:19)
He also says, “faith, if it hath not works, is dead, being alone” (James 2:17)