Abar magnet is dropped toward a conducting ring lying on the floor. as the magnet falls toward the ring, does it move as a freely falling object

Consider that the bar magnet has a magnetic field that is acting around it, which will imply that there is a change in the magnetic flux through the loop whenever it moves towards the conducting loop. This could be described as an induction of the electromotive Force in the circuit from Faraday's law.

In turn by Lenz's law, said electromotive force opposes the change in the magnetic flux of the circuit. Therefore, there is a force that opposes the movement of the bar magnet through the conductor loop. Therefore, the bar magnet does not suffer free fall motion.

The bar magnet does not move as a freely falling object.