It depends on what school you're attending; you will have to ask your college advisor.
For most schools, I believe any passing score counts as an A or just a pass. Some schools (I think Excelsior is an example), actually have cutoff scores where they assign letter grades depending on how high above passing you get.
Failing an exam typically does not go on your transcript at any school.
The bottom line is--check with your school to learn about their CLEP policy.
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