[RKearney]

No it does not (source: iOS device user and Exchange admin).

Adding an Exchange account to an iOS device optionally allows the Exchange client to enforce password and screen lock requirements, encryption, and allow for remote device wiping.

It does not have any access to device location, data, photos, contacts, or anything else you can think of outside of device passcode, encryption, and remote wiping.

An MDM profile is a completely separate thing from Exchange. Also, unless the iOS device is supervised (which has to be done at time of setup and would require wiping the device if you want to supervise one that's already setup) you're extremely limited in what you can do and see.

[lunchables]

This guy MDMs (and is 100% correct).

Source: We provide employee's with iOS devices and use VMWare Workspace ONE (formerly AirWatch) along with their Secure E-Mail Gateway and also use Apple's Device Enrollment Program. This provides for as complete control over the device as you can get.