The truth is in the middle of the dichotomy you setup. Yes having notes, referencing materials, etc in the real world is being prepared. BUT, even in the real world, there's a reasonable expectation that you'll store and retrieve as much of that information as possible in and from your own memory. For example, I'm a pretty adept with python. I occasionally need to look at the standard library reference; yet, I try to commit as much as I can to memory. If I didn't, I would spend the majority of my time searching instead of doing. It goes without saying that a person who knows something off the top of his or her head is more efficient than someone who doesn't. You're correct that in the real world you'll rarely be in a situation where you don't have access to a reference of some kind. However to say at the same time that memorization is a skill that you'll seldom if ever use again is incorrect at best and reckless at worst.