where does SVN store the commited files

Dear All,
I am novice with SVN. However I was able to setup SVN over CVS and am able
to commit my files over the intranet, using Apache. I am a little scared
now.Because, suddenly my sr. wants to see the files in the repo, and I dont
really know where they are ? Googled and
searched(http://www.nabble.com/Repository-not-being-updated-tf3756389.html),
all I could gather was that SVn stores the files in a database and those
files are not really visible through the win.explorer. To see any of those
files, you really have to check out those files
is my understanding correct ?

TIA

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