At least in our field we didn't have to know these names to do well, and we don't need to know them to do our job. My commerce degree on the other hand, if I got the concept, but did not get the name, it's not worth anything to the examiner.
I used to scoff at the use of all these official names (to borrow your phrase), but over time I've found how useful they can be at precise communication.
Before I just thought they were pedantic or snobbish.
