Valid Production version

Hi Experts,

I have a question regarding Production version selection

  When no PV is found with selection method 3, no production orders or process orders can be created. I assume the same is true for the planned orders?.

1. When no valid PV is found when selection method 2 is set, what happens?
2. Is the planned order created with no bom / recipe selected?
3. If planned order is created, can it be converted?

Regards,

Ibrahim