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An affidavit of execution consists of three main components: the preamble (top part), the body (typically single-spaced with double spacing between paragraphs, where paragraphs are numbered), and the jurat (the section where the deponent signs and is commissioned by a commissioner for oaths). The jurat is crucial and can be formatted easily using a table feature, as demonstrated in the tutorial video. This type of affidavit is commonly used in various applications, primarily when a document requires a signature that needs to be commissioned. It serves as a verification of the signing process.