Sure it is. The question is: how much of it? You will probably know what an open set is, a closed set, a covering, a continuous map, limit points, closures, completions or metrics, and maybe some other fundamental concepts. They are indeed needed and basic concepts which should be known. The question is whether you need a full understanding of the field beforehand? It might be the case that you will be confronted with simplicial complexes and cohomologies, but will there be a need to study them beforehand? And here's where I said no, I don't think so. It could as well be done on demand. Of course if you will specialize in certain fields, there will be further mathematical concepts needed. E.g. in physics you will mainly have spaces which allow a kind of metric. But metric spaces are only a small part of topology, so why learn what a Sierpinski space is? If it will occur, look it up. If you want to learn everything in mathematics which might be useful in physics, well, then you probably have to study both and good physicists are often good mathematicians, too. It's primarily the range of knowledge that differs.
Functional analysis (Operators and Hilbert spaces), differential geometry (which basically includes analysis on manifolds) (coordinate systems), linear algebra (basics), measure theory, resp. stochastic (Lebesgue integration, real (hyph.) analysis, probability theory).
Abstract algebra in a very wide sense.
Yes. Have a look on the list above. I think it is long enough to merely learn those topological concepts which arise within them, resp. the fundamentals, resp. to learn it on demand. Differential geometry is basically the complete physics: spacetime isn't Euclidean, everything is written in Lagrangians and differential equations, resp. differential coordinates, even classical physics as fluid mechanics. You meet its language all of the time, so the better you understand it the easier will be physics.
You mentioned string theory. This is based on the standard model, which is about Lie groups and their representations, ergo analytical groups, i.e. smooth manifolds. That they are also topological groups is just a side note. I do not claim you won't need to know what a couple of topological definitions are, e.g. the different versions of connectivity, compactness etc. I simply think that this can be learned along the way or if you're a commuter, on the train. Buy (or download) a cheap paperback about topology and that should do. If you're done with differential geometry, you will automatically have a good basis of topology - at least the part which is used in physics. So the question is: look it up or study it in advance. In the end this is a matter of taste.