How many types object repository in QTP?

there are two types of object repository in qtp
1)LOCAL
2)SHARED

How can we generate script for exception handler in QTP?

We can generate the script for exceptions using recovery scenario manager or with in the script as well.

1.
using recovery script get the properties of the exception object and add it in the resources by naming the exception. We can create the recovery scenario in the options and add it in the resources of the file menu.when generating the script after the exception comes in type wait() please specify some number like 10 or any value in() so that it will wait and then add the recovery scenario over there ad continue with the script
2.
while writing the script with out using the recovery scenario use when event occurs goto step umber and add the recovery scenario by what ever the type of framework that you are using.

What is action split and the purpose of using this in QTP?

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split action is mainly used for re-usability of the application.

spliting a action in to two parts saperatelly.

on calling an action go to call action properties and select call existing action.