All our cats - 8 of them - certainly know their own name.  One of them still reacts to the name he had before he joined our family.  They recognize, in fact, a lot of words:  vet, car, ride, food, floor, windowsill, move, and many many more.

Whether a cat will acknowledge that they understand what you said is a completely different kettle of fish, however.  Most cats know many many more words than just their name; they're just keeping that fact a secret, and choose not to respond or react.

The cat will come to you when you call if, at the moment, he figures the benefit of responding outweighs the benefit of ignoring you. :-)