The Sunday school analogy is probably pretty apt. How much formal theology do you think that the average religious person knows? You're average Christian can't explain the trinity, your average Moslem cannot tell you which Hadiths are considered an acceptable basis for a legal opinion, and so on and so forth. Alot of things can be common knowledge without actually being understood. Almost everyone has heard of quantum mechanics, but almost noone actually knows what it means.
I would imagine that most people have heard the terms and have some populist tradition about the cosmology, but that for the most part they do not understand what they've been taught, hold various misperceptions, and that the populist tradition is often flat out wrong in many important ways. Your average person's usage of the terms of the cosmology might be as accurate as the usage of scientific terms on ST:TNG or your average Hollywood comic book/sci-fi movie.
Thus, everyone has some folk knowledge, but only the scholarly really know the truth and can use the terms accurately.
Of course, there is always the possibility that conversely on some obscure matter or another, it is the scholars who hold the false conception and some obscure bit of folk lore actually held the secret to the truth. It's best to spring that sort of thing only after you've firmly established most of the folk mythology as being utterly bogus though.