(1) The party named in the complaint shall file a formal, written verified answer within 10 days after service of the notice of finding of probable merit.

(2) One copy of the answer shall be served on the complainant, and the original, with proof of due service and 5 copies, shall be filed with the board.

(3) The answer shall include a specific admission, denial, or explanation of each allegation in the complaint.

(4) If the party charged fails to file a timely answer, the board may consider it an admission of material facts and waiver of a hearing.