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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 detailed information, formatted with single spacing and double spacing between numbered paragraphs. The most critical section is the jurat at the bottom, where the deponent signs and gets their signature commissioned by a commissioner for oaths. To format the jurat easily, the video tutorial suggests using the table feature. This affidavit is commonly used for various purposes, particularly when a document requires a commissioned signature.