The proposition "A precisely when B" states that A has the same truth value as B. The proposition "A if and only if B" states that A is true if B is true and that A is true only if B is true.
Question: Can you intuitively explain why "if and only if" means the exact same thing as "precisely when"? (I've already checked the equivalence of "A precisely when B" and "A if and only if B" using a truth table, but unfortunatly this doesn't bring intuitive understanding of this issue.)