The reason this has an "implicit" precedence (rather than explicit) is indeed just as the text says, due to the factored grammar (separate nonterminals).
Work through your example of 1 + 3 * 2, imagining yourself as the computer doing the parsing, following each instruction "to the letter" as it were. In order to find an "exp" (expression) you must first find a factor. (Your other options are to start by finding an "exp" but that has to find a "factor".) So you must find a factor ... but to do so you must find a "term" because a factor is either a term, or a factor that itself starts with a term. So now you must find a term, which is either a NUMBER or the keyword ABS. So you can "accept" (in grammar terms) the 1, which in fact is a NUMBER, and you have succeeded at the first part of the parse -- finding a term. (You now remove the 1 from the token stream, leaving you with + as the next token.)
Now that you have a term, you also have a factor (by definition), but in order to "complete the action of having a factor", as it were, you are required to try for the longer match: a factor followed by MUL or DIV, followed by something. Your next token is +: it's not a MUL and it's not a DIV. Thus, you are forced to stop parsing the factor and return the entire parse-chain-so-far as your factor: 1 is a factor, and the next token is still +.
Now that you have a factor, you have an exp (by definition), but in order to "complete the action of having an exp", you are again required to try for the longer match: an exp followed by ADD or SUB, followed by something. The next token is still + which is in fact an ADD ... so you must proceed with the exp ADD factor { $$ = $1 + $3 }; rule.
At this point, you (as the parser) push the whole thing-so-far onto a stack and get to work again looking for the appropriate nonterminal -- in this case, another "factor". So you now start at the rule for a factor. You must look for a "term", and if you find one, try to do the longer version of the rule that includes a MUL or DIV. When you work through this part, you will see that the * token is indeed a MUL and you will have to take the longer rule, making the "factor" result use the factor MUL term { $$ = $1 * $3; } part of the rule. This will accept, aka eat / use up, the 3 * 2 sequence and return the value 6 for the "factor" that lets you complete the rule you pushed onto your parse stack.
Having returned to your pushed state, you complete the parsing of "1 + " by adding 1 and accepting (eating) the complete expression. And of course 1 + 6 is 7, so that your grammar returns the correct value.