example vs precedent

example and precedent both are nouns.

Word	Noun	Adjective	Verb	Adverb
example	Yes	No	No	No
precedent	Yes	Yes	No	No

As nouns, precedent is a hyponym of example; that is, precedent is a word with a more specific, narrower meaning than example:

example: an item of information that is typical of a class or group
precedent: an example that is used to justify similar occurrences at a later time

Other hyponyms of example include apology, excuse, exception, case in point, quintessence, sample, specimen.

example (noun)	precedent (noun)
a task performed or problem solved in order to develop skill or understanding	an example that is used to justify similar occurrences at a later time
an item of information that is typical of a class or group	(civil law) a law established by following earlier judicial decisions
something to be imitated	a subject mentioned earlier (preceding in time)
a representative form or pattern	a system of jurisprudence based on judicial precedents rather than statutory laws
punishment intended as a warning to others
an occurrence of something

example (adjective)	precedent (adjective)
	preceding in time, order, or significance