1. Yes, I know it. And I think it is a wonderful word.
2. I would like to think that college graduates know that word. If they do not, then I would have to worry about the future of the country.
3. I have a terrible feeling that the majority of the American people do not have this word in their active vocabulary. That is to say, they do not use it in their speech.
But they probably have it in their passive vocabulary. That is to say, when they hear it said in context, they can probably guess that it has a negative connotation.
4. When I read your thread title, I immediately thought of a world leader who was criticized by many people last year for being too flippant regarding a current problem in the world. ((I cannot be more specific, for this is strictly a language website.)
Student or Learner