Frequently considered the opposite of to fail, especially in academic contexts, passing is nothing of the sort. "Passing" generally means achieving (at least) the lowest non-failing grade. The french verb passer, also applied to tests, means something more to the effect of "I sat the exam" or "I survived the exam."
I can't help but relate this to queer lingo, where passing is that limbo state where one can live undetected in the straight world, arguably a boon and a curse. This is related to straight privilege and identity politics.
Another related term: passable. Not particularly laudatory, eh?