I need to be able to work on a word document the same time as another
co-worker. Is this possible and dynamic? Will sharepoint help me do
this?

You can't so long as it is in one file.

You could have two files with links between them.
--
Charles Kenyon

Word New User FAQ & Web Directory: http://addbalance.com/word

Intermediate User's Guide to Microsoft Word (supplemented version of
Microsoft's Legal Users' Guide) http://addbalance.com/usersguide

See also the MVP FAQ: http://www.mvps.org/word which is awesome!
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I need to be able to work on a word document the same time as another
co-worker. Is this possible and dynamic? Will sharepoint help me do
this?