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An affidavit of execution consists of three main components: the preamble, the body, and the jurat. The preamble is the introductory part, followed by the body, which is typically single spaced with double spacing between numbered paragraphs. The jurat is the most important section where the deponent signs, and their signature is commissioned by a commissioner for oaths. The video tutorial provides guidance on using a table feature to format the jurat effectively. The affidavit of execution is commonly used in various applications, especially when a signed document requires a commissioned signature.