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Taking a course for pass/fail means a letter grade of A-D is converted to P on academic record. Students who fail a course receive a final grade of F. Credit is awarded for students who earn a P grade, but the grade is not included in GPA.
NYU awards credit for the College Board Advanced Placement (AP) examinations for scores of 4 and 5 on most examinations.
A good starting point is to take 5-8 AP classes throughout your high school career, keeping in mind the importance of quality over quantity.
While the Stern curriculum only requires that your earn a minimum of 128 units to meet most concentration* and graduation requirements, you can take up to 144 credits while at Stern and have these count toward your GPA.
Harvard only accepts AP scores of 5 for course credit. If you have 4 scores of 5, you can opt to obtain Advanced Standing. You can use AP credits to opt-out of lower-level classes. Harvard has general academic requirements that all students must take.

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In terms of Ivy League and Top 20 schools, even a 4 is a relatively low score to earn on an AP exam. It is routine for Ivy League admissions officers to review applications from students who have scored 5s on multiple AP tests.
CAS students are required to complete 128 credits (i.e., 16 per semester; 32 per year) in order to graduate.
An AP score of 4 is like getting a B on the AP test. Most schools accept a 4 for credit. Before you take any AP exam, check with the colleges youre considering to find out what their policies are for granting AP credit. Each school sets its own AP policies.