Answer
Case scenario:

- Customer has 1700 client machines
- There are 10 different machine models
- Each machine model has a different password (i.e. Dell Latitude e4300 password is "delle4300", Dell Latitude e6400 password is "delle6400")
- In order to set all machines with the same BIOS Password, a policy per model may be required as each policy needs a Profile which contains the OLD Password
- It is advisable to create a collection per computer model so each Policy points to/targets a specific collection
- So in summary, customer needs 10 policies (one per model), 10 Profiles (one per Policy), 10 collections (one per policy). After that, all your machines will have the same common password that you set.