There is some merit in studying before reading it back, although I haven't heard of pilots doing it that way. There have been times when I have read back what I think I heard, then struggled to find an intersection on the map because I had no idea how that name was actually spelled. It felt stupid asking how something was spelled after having read back and acknowledged everything.
Wife says "buy milk from the store". You reply "sure thing, I'll buy milk". Then you when you are ready to head out, you realize you don't know if she said milk or silk. You come back and ask her to spell milk for you. She asks "why did you acknowledge if you had no idea if I said milk or silk".