Let's break down what each part of the name typically refers to

3362P: This is likely a part number or model number specific to the manufacturer or supplier of the potentiometer. It helps identify the exact model of the component.

Adjustable Precision Potentiometer: This indicates that the potentiometer is adjustable, meaning you can change its resistance value manually or electronically. The term "precision" suggests that it has a high level of accuracy and stability in maintaining its resistance value.

502: This could refer to the potentiometer's resistance value. In this case, "502" might represent 5 kiloohms (5K), which means the potentiometer has a total resistance of 5000 ohms.

5K: As mentioned earlier, this likely indicates the potentiometer's resistance value, specifically 5 kiloohms.