Would it be acceptable to report a professor for poor teaching / attitude in a Masters graduate course? I would like some advice about a specific professor in my program of study. I seriously feel that this professor has a problem teaching graduate students. On more than one instance, class was let out one hour early because the professor did not have enough material to last the entire allotted two hours of classroom time. The professor is an adjunct, part time lecturer and the class only meets once per week. 15 weeks are scheduled on the syllabus. The professor does not actually teach but flies through PowerPoint slides that are not even his own. For our midterm, I was able to find the answers to the questions online even before the actual exam.

I am a graduate student and have paid serious money to take this course. I would like some advice as to whether its advisable to report to the departmental head or dean regarding this matter. One final note, many of my peers come from a culture where group solidarity is prized over individual rights. Thanks for any feedback!
You should discuss this situation with your department graduate chair or a similar authority.  It is important to give your program feedback so that they can improve.  However, keep your feedback constructive.  The word "report" is excessively negative.

I think you should adopt some perspective.  Often, graduate level courses are not treated as seriously as undergraduate courses because graduate students are expected to spend their time on independent research, not course work.  Also, while you may be paying a lot of tuition, it is unlikely that an adjunct professor is receiving very much pay.  Many adjuncts are working many jobs to pay their living expenses.  They often receive no training from employers.  Poor teaching by adjuncts can reflect problems with the structure of the institution rather than with the individual adjunct.