Yes. There are several ways. The easiest way is to use the split box, at the
top of the vertical scroll bar. Move the mouse to the top of the
ruler--there's a dash there that's hard to notice. The mouse pointer will
turn into two parallel horizontal lines with up and down arrows above and
below. Drag the split box down. (Or... in Word 2007, choose View tab,
Split.)
Another way is to open a new window on the current document. If you have two
or more monitors, this might be preferable to the split box. In Word 2007,
you do this by choosing View - New Window.
These options are available in earlier versions of Word, too. Choose
Window - New Window or Window - Split (or use the split box).