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An affidavit of execution consists of three main components: the preamble, the body, and the jurat. The preamble is at the top, followed by the body, which is typically single-spaced with double-spacing between paragraphs, with each paragraph numbered. The jurat is the crucial part where the deponent signs and is witnessed by a commissioner for oaths. To format the jurat, the video tutorial suggests using a table feature. This type of affidavit is one of the most commonly used, as it is required when a person must sign a document that needs to be commissioned, making it essential in various applications.