What are the types object Repositories in QTP?

What are the types object Repositories in QTP?

QTP Supports 2 types of Object Repository

1) Shared Object Repository (also called Global)
2) Per-Action Object Repository, (also called Local)

Per-Action Object Repository is used by default. The extension for Per-Action repository is ".mtr" .

Shared Object Repository is preferable while dealing with dynamic objects which are called in multiple tests. The extension is ".tsr"

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