There are some scenarios which are definite where you have to use anti seize compound. It has to be utilized when metals which are dissimilar are involved like an aluminum brake caliper with a steel bolt, when there are chances that a thread might be exposed to effects of corrosion (fasteners of suspension), where the high heat might end up accelerating the corrosion like exhaust fasteners and manifold turbo, and on fasteners that frequently get removed such as the underbody trays which is covering the oil pan.
In such scenarios, the anti-seize needs to be used only between the fastener thread and the tapped or the nut that houses the thread in it. To use anti-seize on a thread which is exposed of the fastener will run the risk of a buildup of the contaminants, damaging when removed.
Ensure to clean the excessive anti-seize after you are done with the assembly. It might sound as if it is obvious and a bit redundant at this particular point, but when you place your components back together, and install the fastener, just make sure that you wipe off the excessive anti-seize which is exposed to avoid any damage occurring.