I don't use the stand-alone version but F2F is likely the same. Here is the bit from the 2019 Help file:
Use the default settings for this point: This option draws a point in the "MISC" layer with no linework. To set your own default, define a code called "SC_DFLT".
Use default settings for all undefined codes: This option will draw all undefined codes in the "MISC" layer by default or a user specified layer as defined in the "SC_DFLT" code. A good way to check the data file for unmatched descriptions is to use the Print Table command and choose the Data Points and Distinct Code options. This command will print the different codes in the data file and identify any undefined codes.
I often use the Report Codes function to identify the unknown codes (whew! hard to draw freehand on the laptop):
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