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An affidavit of execution consists of three main components: the preamble, the body, and the jurat. The preamble is the top section, followed by the body, which is generally single-spaced with double spacing between numbered paragraphs. The most critical part is the jurat, where the deponent signs and a commissioner for oaths certifies the signature. Formatting the jurat can be easily done using a table feature, as shown in the tutorial video. The affidavit of execution is commonly used when a signature on a document requires commissioning, making it applicable in various situations, particularly when documents need official validation of signatures.