A DSNDING FALCON 900; A DA90; OVERSHOT ITS ASSIGNED ALT OF 13000 FT. ARTCC RADAR CTLR NOTED ERROR AND ACFT CORRECTED ITS ALT.

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CLRNC WAS TO 13000 FT AFTER MAJEK INTXN. CALLOUT 14000 FT FOR 13000 FT WAS MADE BY BOTH PLTS. AS PNF; I WAS SETTING UP APCH ON FMS WHEN CTR CALLED OUT THAT CLRNC WAS TO 13000 FT. WHEN I LOOKED UP; WE WERE AT 12000 FT. ERROR WAS PROMPTLY CORRECTED WITH NO APPARENT CONFLICT WITH OTHER TFC. PF; CAPT; DID NOT SET ALT SELECTOR TO 13000 FT; 14000 FT WAS LEFT ON ALT SELECTOR AND VERT SPD MODE WAS SELECTED. I DID NOT NOTICE NOR HEAR AURAL ALT ALERTER. ONE FACTOR WAS FAILURE TO OBSERVE LEVELOFF AFTER MAKING '14000 FT FOR 13000 FT' CALL. ANOTHER FACTOR WAS FAILURE TO RESET ALT SELECTOR. SUPPLEMENTAL INFO FROM ACN 415014: I BEGAN A DSCNT ON THE AUTOPLT IN VERT SPD MODE. I THOUGHT THAT I HAD RESET THE ALT SELECTOR TO 13000 FT. AS WE DSNDED THROUGH 13700 FT; THE AURAL 'ALT' SOUNDED AND BOTH PLTS RESPONDED '14000 FT FOR 13000 FT.' I WAS READING WX FROM OUR AFIS SCREEN; WHEN CTR CALLED AND SAID OUR ASSIGNED ALT IS 13000 FT. WHEN THE AURAL WARNING SOUNDED 'ALT' AT 13700 FT; I SHOULD HAVE DOUBLECHKED THE PRESELECTOR FOR THE CORRECT SETTING. I ALSO NORMALLY WATCH THE AUTOPLT LEVEL THE ALT; BUT THIS TIME I ALLOWED MYSELF TO BE DISTR AND DID NOT CATCH THE ALT BUST.