If you take the cutting from the top growth above the graft point, if it roots successfully the new plant will be like the grafted variety, but it might be bigger, smaller, more vigorous, less vigorous etc depending on why the parent plant was grafted. Eg fruit trees are often grafted onto dwarfing rootstocks to keep them small, and some ornamental varieties are grafted because they don't grow well on their own roots.
Taking a cutting from any grafted specimem will give you a clone of the upper tree. The rootstock will remain just taht. However, watch out for suckers. These emminate from the original rootstock.
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