No way to set password on Flytouch3

Hi - newbie poster and droid tab user so go gentle with me ...

My recently purchased Flytouch3 is as wonderful and awful in equal measure as I expected it to be. One 'feature' I cant find is a lock screen or power on password - have looked in 'Locations and Security' under settings but there isn't an obvious option to change/set.

Any ideas my new friends?