Use the deletePolicy parameter to delete the specified policy from the DefaultCoreGroup.
Usage: wpfadmin deletePolicy "myM-Of-N FP2 Policy"
[root@wpfsample3 bin]# ./wpfadmin deletePolicy "myM-Of-N FP2 Policy" WASX7209I: Connected to process "Deployment Manager" on node wpfsample3Manager using SOAP connector; The type of process is: DeploymentManager The policy myM-Of-N FP2 Policy has been deleted