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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 typically single-spaced with double spacing between numbered paragraphs. The jurat, located at the bottom, is crucial as it is where the deponent signs and is commissioned by a commissioner for oaths. To format the jurat easily, the video tutorial recommends using the table feature. The affidavit of execution is widely used for various purposes, particularly when a document requires a signature that must be commissioned.