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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, while the body contains the affidavit's content, formatted in single-spaced text with double spacing between numbered paragraphs. The jurat, located at the bottom, is crucial as it includes the deponent's signature and the commissioning by a commissioner for oaths. The video tutorial demonstrates how to efficiently format the jurat using a table feature. This affidavit is widely used for various applications whenever a signature requires commissioning, making it one of the most common affidavits.