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An affidavit of execution consists of three main components: a preamble, the body, and the jurat. The preamble is at the top, followed by the body, which is typically single-spaced with double spacing between numbered paragraphs. The most critical part is the jurat, located at the bottom, where the deponent signs and is commissioned by a commissioner for oaths. To format the jurat easily, a table feature can be utilized, as demonstrated in the tutorial video. This type of affidavit is commonly used when an individual needs to sign a document requiring a commissioned signature. It is applicable in various situations.