No Security: All security is DISABLED for this value set.
Hierarchical Security: With Hierarchical security, the features of the value security and value hierarchies are combined. With this feature any security that APPLIES to a parent value also applies to its child values.
Non-Hierarchical Security: Security is enabled, but the RULES of the hierarchical security do not apply. That is, a security rule that applies to a parent value does not “CASCADE down” to its child values.