Check out the links at the end of this comment, in addition to the one you, osuprof, posted.
A 5 in AP Calc BC allows you to go directly to Math 230, yes. However, you still need to take the ALEKS and McCormick math placement tests (1, see sections “Math Placement Exam” and “ALEKS”).
With a 5 in AP Chem you do get credit for Chem 101, 102, and 103, and can enroll in Chem 210-1 or 212-1 (2). According to McCormick, if the student is entering as a declared Electrical Engineering major, then they do not need to take the Chem entry exam. However, if the student is undeclared coming in, it is recommended that they take that test (1, see sections “Chemistry Entrance Exam” and “First Year Curriculum” subsection “Science”). Chemistry is highly recommended as a choice of basic science course (for which I think you won’t get AP credit for, but I’m not sure about that so you might want to contact McCormick people) so it is a good idea for the student to plan on taking Chem 210-1 or 212-1 anyway. One of those just named Chem courses is full of pre-meds and Chem majors though, so watch out. And also talk with advisors to make sure that taking Chem is the right choice. On the other hand of whether the student needs to take the Chem test or not, Northwestern, through this link, says that any student planning on taking a Chem course their first year should take the placement test (3). I think it would be a good idea to talk with McCormick and/or Chem department people, preferably by phone, to figure this out.
(1) McCormick “Welcome New Students” page http://www.mccormick.northwestern.edu/students/undergraduate/first-year/welcome-new-students.html#cee
(2) osuprof’s link
(3) Northwestern placement exams page http://www.northwestern.edu/orientation/incoming-students/placement-exams/
Electrical Engineering major page, could be helpful: http://www.mccormick.northwestern.edu/eecs/electrical-engineering/undergraduate/curriculum.html