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An affidavit of execution consists of three main components: the preamble at the top, the body in the middle, and the jurat at the bottom. The body is typically single-spaced, with double spacing between numbered paragraphs. The jurat is crucial as it includes the deponent's signature, which must be commissioned by a commissioner for oaths. To format the jurat effectively, one can utilize the table feature, as shown in the tutorial video. This affidavit is commonly used when a person needs to sign a document that requires their signature to be officially commissioned.