I have a finance background (MSc Finance) and work in asset management, I obtained the CFA in 2014 after passing all three levels on the first attempt. Now I am considering sitting for both levels of the FRM in November 2015 and I am wondering how many study hours I should estimate. I think the FRM website says 200 hours for each level, but that is probably based on the assumption that the candidate has no familiarity with the topics. What do you guys think a good conservative estimate is for me? 150 hours? 100 hours?