Final answer:
The student's perceived rating with regard to bench press strength would be intermediate based on the 1RM of 123 lbs. The correct option is b.
Step-by-step explanation:
The student's perceived rating with regard to bench press strength can be determined based on the given 1RM of 123 lbs. The rating categories for bench press strength are generally classified as novice, intermediate, advanced, and expert.
Based on these categories, a 1RM of 123 lbs would typically fall under the intermediate rating. This indicates a moderate level of strength and progress in bench pressing. Hence, b is the correct option.