If I were to pass this exam, would I still have to take Math 115 (Calculus for Business)?
A passing score of 3,4,5 gives you credit for MATH 113 - 2 units & MATH 122 - 4 units according to the AP credit table.
I would contact CSULB directly to see if you can use your AP credit for Math 115.
http://web.csulb.edu/divisions/aa/catalog/2016-2017/academic_regulations/ap_exam_table.html