a) Test script contains the executable file in WinRunner while Compiled Module is used to store reusable functions. Complied modules are not executable.
b) WinRunner performs a pre-compilation automatically when it saves a module assigned a property value of “Compiled Module”.
c) By default, modules containing TSL code have a property value of 'main'. Main modules are called for execution from within other modules. Main modules are dynamically compiled into machine code only when WinRunner recognizes a 'call' statement. Example of a call for the 'app_init' script:
call cso_init();
call( 'C:\\MyAppFolder\\' & 'app_init' );
d) Compiled modules are loaded into memory to be referenced from TSL code in any module. Example of a load statement:
reload (“C:\\MyAppFolder\\' & 'flt_lib');
load ('C:\\MyAppFolder\\' & 'flt_lib');

[Source: JAGAN MOHAN "Interview questions bible"]

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