File Extension - Inclusion and Exclusion

In the "Allowed File Extensions" list under each application, it lists out the file extensions that are in the master list under Moderation. The list that shows up in the text box below it limits the master list, therefore if I want to make my life easier - I should actually remove all the file extensions from the text box list to always follow the mater list.

Correct? Or do I have this backwards?

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