I wouldn't for the cart and checkout, I would actually no-index them. The reason being is depending on what measure you are using for cart abandonment, having people land on those pages will skew your results. Also at the same time there is no good reason for them to enter on those pages so it will increase the overall bounce rate if people are entering on them.
Privacy policy, shipping, and return policy, I would not specifically no-index them, but I would not try to optimize them for anything other business name - page name. That being said, if you are like Costco and offer some amazing return policy that someone can return a product after 10 years for a full refund and it is a popular product; I might consider optimizing the return policy for that as well. Or if you are the only person that offers free international shipping on a large item like a baby grand piano or something. But if you fall in line with the rest of the industry I would just leave them as is and only optimize them for your business name - policy type. So then if people search for your business and return policy those pages will more than likely come up.