Easiest way to check is to look up the song in the YT audio library and see the policy. At the very least it'll be Content ID'd and ineligible for monetization.
EDIT: Here you go:
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You can usually use songs like this for a few weeks so they get some ad revenue, then IFPI will strike it. Be very careful.[DOUBLEPOST=1450553843,1450553751][/DOUBLEPOST]
And it depends on the context in which it's used. So if it falls under fair use and isn't a big/main portion of the video
Fair use laws do not consider the time of the copyrighted material use.