If we want to store reports at network location,then is it possible to store reports in network location while in test region.
Did not get what do you mean by test region.
But yeah, surely you can save cognos report outputs to some network location.
Refer below links....
http://www-01.ibm.com/support/docview.wss?uid=swg21342666
there are four levels/regions of cognos connection in our project Development,Test,Stage and Production.