No The "foundation of the world" typically refers to the creation of the physical earth. Where do you get the idea that it refers to the Abrahamic Covenant???

Answer: the bible. I completely disagree with your position, You seem to think it means the same as the foundation of the earth,a completely different construct. And i also believe it always refers to the same time period. The Foundation of the world (FOTW) occurs 10 times, three times i refers to before this time and seven times after. Each before reference is to Jesus in heaven, the after references refer to man or Jesus as a man (any bells ringing?)
Hebrews 9 25-26, These two verses speculate how much more often Jesus would have had to have suffered if he (like a priest who had to enter the holy place yearly) also had to suffer yearly for us too but did in fact only do it just once and had victory over sin once and for all. this brings the Abrahamic Covenant/Mosaic Covenant clearly into focus. i.e once a covenant is in place to do so. Further study reveals it to be the Abrahamic. this adds weight to my stance that the term kosmos refers to the 'sea' of spiritual life on earth saved and unsaved, and contradicts your stance about it only referring to the elect. A quick search through the use of kosmos in the bible confirms pretty much every use of it can be considered 'what adorns the earth' physically and spiritually or both.