Yes. It is even quite a common task as there are many reason to do so.
Go to the LIST (not the form) associated with your form, select it and click on "copy". You will be asked to give a name to the new list/form/group that will be created. They can be the same names as before (since they are only labels) but it may be confusing for you to use. But it all depends on the use.
When you confirm the copy, all the previous elements are copied in the new group, so you have just to edit the elements where you need to remove the validations. You'll have to "unlink" them for that. The other elements can remain "linked" to their "parent". Be aware though that any change made in a "parent "element will be reflected on the "child".
NOTE also that if the reason you need to create a copy of the form is to disable some validation, you may use the "condition" box in the validation itself so it only runs upon certain circumstances, but it's hard to be more precise without knowing what you need to do.
