Christian Protestantism may be viewed as the product of late medieval "protests" against various elements of the Roman Catholic church. Though there were always persons within Catholicism pressing for reforms, the beginning of the Protestant Reformation is usually dated to 1517 when Martin Luther (1483-1546), an Augustinian monk in Wittenberg, Germany, published his ninety-five theses against papal indulgences. The theses challenged the authority of the pope and by extension of the Roman Catholic church. Protestants since that time are generally considered to be those Christians who are neither Roman Catholics nor Eastern (or Russian) Orthodox.
Although Protestant theology is varied today, it can be characterized by four basic beliefs: (1) the Bible is the Word of God and all authority resides within its pages as it bears witness to Jesus Christ; (2) the Bible should be in the language of the people, who, by the power of the Holy Ghost, can gain their own understanding of God's Word; (3) all church members hold the priesthood and should be involved in the total life of the church, meaning that no mediatorial priesthood is necessary; and (4) people are saved by their faith, through the grace of God, and not by any works they may do apart from or in addition to faith.
While Latter-day Saints share with Protestants a conviction of the importance of the scriptures, an extensive lay priesthood (but given only by the laying on of hands by those having proper priesthood authority), and the primacy of faith in Jesus Christ as Lord and Savior as the first principle of the gospel, they differ from them by affirming a centralized authority headed by a latter-day prophet and by a number of other doctrines unique to the Church, i.e. temple ordinances for the living and the dead, and the eternal nature of the marriage covenant. Despite some important differences, Latter-day Saints actually share much in doctrine, heritage, and aspiration with Roman Catholics, Eastern Orthodox, and Protestants. Even so, they view themselves as embodying an independent Christian tradition standing on its own apart from these other traditions. The Church of Jesus Christ of Latter-day Saints is not a reformation of a previously existing ecclesiastical body but is instead a restoration through heavenly ministrations of authority and of truths, structures, and scriptures that God returned to the earth through the Prophet Joseph Smith and his successors.
I admit that I don’t know much yet about other religious views outside of Mormonism so I wonder if they got it right.