I'm currently in AP Physics C and AP Calculus AB. In my school, it is not permitted to take this course without being concurrently enrolled in a calculus course. So far, calculus has been used pretty extensively, where it is applicable of course because sometimes it's not necessary when good ol algebra will do (which sometimes I find more difficult than something like derivatives and integrals, because it's very tedious and easy to get lost/make careless mistakes).
However, you do need to have a bit of background on calculus beforehand as in the first week we were using derivatives and after about one month, we needed to know how to use integrals. Since that's a little faster than what I'm learning in Calc AB, I find myself looking ahead in my textbooks to get an idea on these topics so I'm not totally clueless in physics.
I'm obviously still towards the beginning of the courses (just finished half of first semester), but this may help you a bit to get an idea.
REWORDED: Will the questions be calculus based, such as in the case when answer choices are given in standard calculus notation?
Yes, you will definitely need calculus to answer questions on the exam, otherwise the process is long, tedious and sometimes impossible to do without calc, and you'd never finish in time without it (heh, I just had a vision of trying to find the velocity of an object from a position function by drawing the graph and trying to estimate the slope of a tangent line, rather than just using a simple derivative

).
Oh, and I'm pretty sure there will be no multiple choice on the exam
EDIT: Correction, I found out there will be some multiple choice questions on it, but I don't think they'll be a major part of the exam, and they're probably just value answers rather than anything that requires calculus notation. These are hand-graded by people, rather than fed into machines. My teacher says that they will look at every bit of work and process that you use and write down to come up with the answer, so understanding the concepts behind the questions and applying them correctly counts for nearly all of the credit, while having a correct answer itself is a miniscule component of your score.