I am happy that you ask this question, because I myself (as an affected party) have wondered about this lately. Here is what I have been doing during my first few days as a moderator.
I have not performed any binding actions on the review queues. That means: no "Close", no "Leave Open", no "Leave Closed", no "Reopen", no "Delete", as these actions remove the item from the review queues when they are performed by a moderator, but not when they are performed by a non-mod user (source). I have therefore stayed away from the "Close Votes", "Reopen Votes" and "Low Quality Posts" review queues1. Note: we have asked to lower the "Close" and "Reopen" vote threshold to three (meaning that it would take three close/reopen votes to close/reopen a question), and it seems that SE might test this on our site in November. This might need to be taken into account when deciding our policy.
I try to avoid performing binding actions on the review queues. That means: no "Close", no "Leave Open", no "Leave Closed", no "Reopen", no "Delete", as these actions remove the item from the review queues when they are performed by a moderator, but not when they are performed by a non-mod user (source). I have been, however, closing some blatantly off-topic questions like this and this.
Note: we have asked to lower the "Close" and "Reopen" vote threshold to three (meaning that it would take three close/reopen votes to close/reopen a question), and it seems that SE might test this on our site in November. This might need to be taken into account when deciding our policy.
I have been doing "First Posts" and "Late Answers" reviews normally. This is because a moderator action on these queues is as binding as an action from a non-mod user, i.e., one single action form any user (upvote, downvote, edit, comment, "no action needed") removes the post from the queue.
I have not come across any "Suggested edits" since I became a mod. Here I am not sure how to proceed: it is true that "Approve" or "Reject" require one vote from mods and two votes from non-mods, but it is also true that any user can single-handedly approve or reject an edit by selecting "Improve Edit" or "Reject and Edit" respectively. So I guess I would not do much harm if I click "Approve" or "Reject" in this queue.
I hope to hear feedback from the community on whether this is fine or whether it is desired that we (moderators) handle review queues differently.
1Exception: I single-handedly closed this Meta question as a duplicate of this feature request because I completed the feature request, and I would have found it redundant to add estado-completado and the exact same answer to both questions.