Yes, I expected only

Complexity, and

Minimum Length

policies to be checked by CHECK_POLICY.

However, in my experiments, with a SQL Server login having only CHECK_POLICY in effect (but not CHECK_EXPIRATION), when minimum age was set, I could not change the password until then, and with History set I could not change the password to the same one for as many as specified by the History.

Try it and let me know if you get different behavior.

):-D