2 Nephi 9

As Jacob taught the plan of salvation and the need of an infinite atonement, he teaches of the Savior -

"...that all might stand before him at the great and judgment day.
23 And he commandeth all men that they must repent, and be baptized in his name, having perfect faith in the Holy One of Israel, or they cannot be saved in the kingdom of God.
24 And if they will not repent and believe in his name, and be baptized in his name, and endure to the end, they must be damned; for the Lord God, the Holy One of Israel, has spoken it."  (Book of Mormon | 2 Nephi 9:22 - 24)

The question that came to me was "what does it mean to be saved?" and "what does it mean to be damned?". 

In my mind, the word "saved" or being saved from what suggests that it is through the atonement of Jesus Christ, one may be saved from "the fall of Adam".  Which means we overcome both physical death and spiritual death meaning we return to the presence of God.  Being saved in my mind does not represent eternal life or exaltation. That requires additional ordinance, laws and covenants.

Being damned in my mind also means being stopped in our progression of ever receiving eternal life or exaltation.