Option->tools->folder setting for
to add the folders in which QuickTest searches for tests,actions, or files. If you define folders here, you do not need to designate the full path of a test, action, or file in other dialog boxes or call statements.
the current test is default for this folder list. so all the all the actions, or files of the current test available as default in search in related dialog's.
Please note that The order of the search paths in the list determines the order in which QuickTest searches for a specified action or file.
( Source : QTP User Guide )
to add the folders in which QuickTest searches for tests,actions, or files. If you define folders here, you do not need to designate the full path of a test, action, or file in other dialog boxes or call statements.
the current test is default for this folder list. so all the all the actions, or files of the current test available as default in search in related dialog's.
Please note that The order of the search paths in the list determines the order in which QuickTest searches for a specified action or file.
( Source : QTP User Guide )