Are Catholics Saved?

"Are you saved?"

This question is often asked of Catholics by fundamentalist, Evangelical Christians such as Baptists, Assemblies of God and members of  other rivivalist or bible-only churches.

Sometimes its our friends or family, colleagues at work, although their really not supposed to do that, people knocking on doors and sometimes its total strangers coming up to you off the street asking:

" Are you saved?"

The idea is that Salvation is a 1 time event in which a person makes the decision to be a christian by asking Jesus to save them. Once this is done they are 

"Saved"