Add a comma...
SELECT Id,name,class
(case when isnull(class,123)=123 then 0 else 1 end) as exist
FROM test_Table
Becomes:
SELECT Id,name,class,
(case when isnull(class,123)=123 then 0 else 1 end) as exist
FROM test_Table
But I'd probably do it a safer way:
SELECT Id, Name, Class, CASE WHEN Class IS NULL THEN 0 ELSE 1 END AS Exist
FROM test_Table