I went into WORD Tools/Options and made some changes recently. Now I see what looks like a "I" but it is grey. It seems to mark the change from one font to another or from Bold to "Not Bold." How can I get rid of these marks? I don't feel that I need them.

Correction: these markers do not end the Bold formatting - I'm not sure what they indicate.

They indicate the presence of bookmarks. In Tools > Options is a checkbox to turn off the display of bookmarks.

You can go Edit > Go To and choose Bookmarks and use the bookmarks to navigate the document.