5 should be 5.00 (which you can dial in with the pot)
12V should be within +/-0.5V of 12
-5 should be within half a volt as well, however some 7905 regulators will read high with no load. You might see -6, -8, or even higher with no load. (If you want to test with a load, put a 1K resistor from the -5V test point to GND, and it should come to within half a volt of -5V. Else the regulator is bad.)
5 should be 5.00 (which you can dial in with the pot)
12V should be within +/-0.5V of 12
-5 should be within half a volt as well, however some 7905 regulators will read high with no load. You might see -6, -8, or even higher with no load. (If you want to test with a load, put a 1K resistor from the -5V test point to GND, and it should come to within half a volt of -5V. Else the regulator is bad.)