Since philosophy depends on discussion, class participation is a vital part of your grade. However, it would not promote relaxed discussion if the instructor were assigning grades as students spoke. The relevant portion of your grade is determined informally, at the end of the term, on the basis of flexible guidelines. At a minimum, it entails regular attendance and attention to what others have to say. A stellar attendance record will earn you at least a B for class participation, but helpful contributions to discussion and/or playing a valuable role in oral reports will typically boost this portion of your grade into the A range, as will good performance on any quizzes given in class. Without a good attendance record, these other indices of class participation are more likely to earn you a B, though extraordinary work can boost you above that. Grades below B depend on how irregular your attendance is and/or whether your oral contributions when you are there tend to support or obstruct the ongoing conversation. Being out-of-touch due to frequent absences is not a help.
As to what makes for helpful contributions to discussion: questions as well as comments and criticisms are welcome. The aim is not to show how much you know but to show that you're thinking intelligently, and sometimes a question that brings up an unclarity can be particularly helpful, so please don't hold back out of fear of revealing ignorance.