Familiar king currently with knight (5)
I believe the answer is:
known
'familiar' is the definition.
(associated in meaning)
'king currently with knight' is the wordplay.
'king' becomes 'K' (chess abbreviation).
'currently' becomes 'now' (right now).
'with' says to put letters next to each other.
'knight' becomes 'n' (chess abbreviation).
'k'+'now'+'n'='KNOWN'
(Other definitions for known that I've seen before include "Recognised, familiar" , "Apprehended mentally" , "In the public domain?" , "Experienced" , "Widely recognised" .)