Train bodyguard candidates at the Gladiator Arena for Governor Volney
The Governor gives you a rapier - definitely no-good. Low stats and cannot even be sold...
Go to Gladiator Arena in the NW (see map).
To train the candidates, just 'kill' them.
Note: Beware of the Swamp Dragons (they do massive amounts of meelee damage - my Derth Mage at 91 AC lost half of his 160 hp in two blows (I attracted 2 green dragons on the way to the arena... saved my skin by luring them away to the sunken cemetery and dropping through the hole, and Recalling away...)
Additional Note: When you play an experience greedy glass-canon mage like me (AC 14 and primarily skilling Attack Magic, Healing Magic and Protection Magic), be a bit creative with your spells. I dealt with the Dragons by using Calm as soon as they were in melee range, and then battered them down with ranged attack spells. Don't forget to buy or brew enough Mana Potions and also keep in mind that Calm has an chance to fail. It rarely happened to me but it can happen. So saving your game in an second slot before engaging combat is recommended.