For me this is important. My clients pxe boot at times specified within the bios but I need them to shutdown at a certain time also. To accomplish this the time must be correct. Here is how I sync time.
Install ntpdate, edit /etc/init.d/knoppix-autoconfig and /etc/default/ntpdate.
Within knoppix-autoconfig edit the section that starts with #Set timezone, the next line under this, KTZ="America/Chicago" (for my time zone, edit to meet your zone).
Within ntpdate add the # to the begining of the 5th line (#NTPDATE_USE_NTP_CONF=yes) next edit the 8th line that states NTPSERVERS="192.168.1.253" (my internal time server is 192.168.1.253 edit that to match your time server needs, ip or name will do)
Now each time your knoppix boots it will sync / set time with the server you specified.
Enjoy!