Do I need to be present at the inspection?

It is highly recommended that you attend the inspection. The inspection itself is interactive ~ there is no substitute for the spoken word. During the inspection many repair and/or remodeling suggestions may be given which may not necessarily be in the report. Consider it a home education class, ask any questions.
The report reads as the inspection was conducted, therefore reading the report will re-visit the inspection and little is left to question. This leads to a much better understanding of your potential purchase preventing post settlement aggravation and post settlement back-end expenses.