The model answers point to "accumulation of knowledge over a long period of time". "He must read" refers to a constant habit. "He must have read" refers to his entire life in the past.
Your answer is not wrong, but it points to recent and current activities.
If I use this sentence as an example, then your answer will appear more suitable: "I have seen him very often in the local library in the past two months. He must be reading a lot of books."