Hi,
Based on accept actions in the import policy applied to the BGP neighbor, the prefixes in the accept term will be accepted, else there is a reject implying all prefixes will be rejected.
That is, If the comprehensive policy is as below and applied as import to BGP neighbor:
set policy-options policy-statement ABC_IMPORT_V4 term DROP_RFC_1918 from prefix-list-filter RFC1918 orlonger
set policy-options policy-statement ABC_IMPORT_V4 term DROP_RFC_1918 then reject
set policy-options policy-statement ABC_IMPORT_V4 term EXPLICIT_DENY then reject
set routing-instances CDF protocols bgp group BCD neighbor 12.12.1.1 import ABC_IMPORT_V4
There's no accept action + an EXPLICIT_DENY, then no prefixes are imported from that BGP neighbor.
If there was no EXPLICIT-DENY term, then all prefixes would be accepted except for prefixes in prefix-list RFC1918.
Cheers,
Ashvin