Very possibly. But is knowing the same as remembering? Compare remembering the specific value of quicksort's worst case to knowing that some sort algorithms are better than others when, say, the input is likely to already be sorted, and that you should go crack open CLRS if you dont recall which.
You probably will never implement quicksort, but it is useful to know, how it works, as you may be able to use some of the ideas on your own algorithms. Quicksort is also beautiful, so it can be a good inspiration on writing good software.
I won't debate the utility of the exam, but the majority of the tests I have taken can be aced with five minutes of googling.
[EDIT] The thing I'm most looking out for is how a candidate answers when they don't know the right answer.