I found the below information which is really helpful:

This method is used to add a new folder path to the Folders list (Tools-> Options-> Folders).
PathFinder.Insert [Path],[Index]

This method returns the Index of the specified path.
PathFinder.Find [Path]

This method can be used to swap the Index of two folder paths.
Pathfinder.MoveItem [Source_Index],[Destination_Index]

This method removes the specified folder path from the folders list.
Pathfinder.Remove [Path]

This method removes all the items from the folders list.
Pathfinder.RemoveAll

This method removes the folder path item using Index.
PathFinder.RemoveByIndex([Path_Index])

This method can be used to commit all the changes which are done using PathFinder object. If Save method is not used, your changes in Folder List will not be retained.
PathFinder.Save

[Source][1]

[1]: http://qtpcodes.blogspot.com/2011/09/more-methods-for-pathfinder-object.html