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The affidavit of execution consists of three main components: the preamble (top part), the body (single spaced with double spacing between numbered paragraphs), and the jurat (bottom part). The jurat is crucial as it includes the deponent's signature, which must be commissioned by a commissioner for oaths. To format the jurat, a table feature can be utilized, and viewers are encouraged to refer to the video tutorial for guidance on this process. The affidavit of execution is commonly used for various applications where a person's signature requires commissioning.