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An affidavit of execution consists of three key components: the preamble, the body, and the jurat. The preamble is the introductory section, while the body is typically single-spaced and has double spacing between paragraphs, with each paragraph numbered. The jurat is the crucial part where the deponent signs, and their signature is commissioned by a commissioner for oaths. Formatting the jurat can be simplified using a table feature, with a tutorial available in the video. This affidavit is commonly used across various applications whenever a document requires a commissioned signature.