Yes, UBB.Classic was generally run from a cgi-bin folder on most webhosts; mainly the configuration files, script files, and member data were in that folder, generally a "ubb/" directory would also be in your web root.
And yes, if you're running UBB.threads you won't be running anything out of your cgi-bin (unless it's one of the redirectors which came with the importer files then you moved to threads).