'Precision' is not a specific model, it's no more than a sub-brand used by Fender. Unlike Jaguar and Mustang, for example, it uses it solely for basses.
As something of a failed taxonomist, the consistent features of a Precision are few and far between:
Bass guitar, made or licenced by Fender under the labels Fender or Squier. Bears the word 'Precision' in its name. Has a non-offset body shape. Standard layout with a traditional Fender-shaped headstock, four tuners on the one side (a fifth on the bottom is optional) and a single bridge unit.
Just about everything else varies, sometimes almost everything else is different from the original ('51) or classic style.