Conserve mode without antivirus

Hi,

can someone clarify one thing as I'm lost: I use only firewall policies, no antivirus, no IPS and no Application Control. With below settings what happens when FW enters kernel conserve mode? Does it accept new sessions? Does it process existing ones?

config system global

    set av-failopen pass                

    set av-failopen-session disable     

Firmware: v5.2.11,build754 (GA)

Thanks