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The most familiar example of the function of keys is in the performance of priesthood ordinances. An ordinance is a solemn act signifying the making of covenants and the promising of blessings. In the Church all ordinances are performed under the authorization of the priesthood leader who holds the keys for that ordinance.
An ordinance is most commonly officiated by persons who have been ordained to an office in the priesthood acting under the direction of one who holds priesthood keys. For example, the holders of the various offices of the Aaronic Priesthood officiate in the ordinance of the sacrament under the keys and direction of the bishop, who holds the keys of the Aaronic Priesthood. The same principle applies to the priesthood ordinances in which women officiate in the temple. Though women do not hold an office in the priesthood, they perform sacred temple ordinances under the authorization of the president of the temple, who holds the keys for the ordinances of the temple.
Another example of priesthood authority under the direction of one who holds the keys are the teachings of men and women called to teach the gospel, whether in classes in their home wards or in the mission field. Other examples are those who hold leadership positions in the ward and exercise priesthood authority in their leadership by reason of their callings and under the setting apart and direction of the priesthood leader who holds the keys in the ward or the stake. This is how the authority and power of the priesthood is exercised and enjoyed in The Church of Jesus Christ of Latter-day Saints.2