Current events usually are within the past decade or so, events that shape our current time frame. In this case it would be events leading up to the wars we are currently participating in, silly things too like the "proofers" or "birthers" (whichever one you want to call them), health care debates, economic turmoil (recession/depression), housing, etc.
I wouldn't know what are on the tests, as I've never taken AP Government courses and each teacher may have a different opinion on what is salient to the time based on their own political affiliations (that they aren't supposed to have come into play but people really can't avoid it) and/or their own opinion.