Authentication policies evaluate authentication requests based on the specified policy conditions and either allow or deny access depending on the output of policy conditions evaluation. For example, access is allowed only if all the policy conditions specified in Allow Access Policy evaluate to true.

Use the built-in authentication policies or create an authentication policy according to your security requirements. You can find the policies on your instance by navigating to Adaptive Authentication > Authentication Policies > All Policies.
Note: At any point of time, either Allow Access Policy or Deny Access Policy can be executed but not both.