HS125-700 FO ALLOWS ACFT TO WANDER ON FINAL APCH; WHICH RESULTED IN GOING ABOVE ASSIGNED ALT AND NOT STAYING ON THE PUBLISHED APCH COURSE.

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VOR/DME-A APCH INTO TEB; INSIDE CLIFO; WE NOTICED WE WERE APPROX 200 FT ABOVE ASSIGNED ALT AND APPROX 5-10 DEGS TO THE L OF COURSE. CAPT SUGGESTED FLYING APCH AT HIGHER AIRSPDS THAN NORMAL SO AS TO PROVIDE TRAINING AT OPERATING THE ACFT AT FASTER SPDS INSIDE THE CLASS B AIRSPACE. THE INCREASE IN SPD WAS ADMINISTERED AROUND THE MIDWAY POINT OF THE PUBLISHED APCH; IE; BTWN WANES AND JAYMO. AS FO; I WAS NOT USED TO FLYING THE PARTICULAR APCH AT SUCH FAST SPDS AND I WAS NOT TRAINED (PRIOR OR SINCE) TO FLY APCHS AT THE FASTER SPD. RETURNED TO INST SCAN AFTER VISUALLY SCANNING FOR TFC OUTSIDE THE ACFT. IMMEDIATELY DSNDED TO ASSIGNED ALT (1500 FT MSL) AND TURNED R TO CORRECT COURSE DEV. WE WERE NEARLY OVERHEAD TEB AND WERE PREPARING TO CIRCLE E OF THE FIELD TO ENTER L TFC (DOWNWIND/BASE) TO RWY 19. IT WAS NOT THE PLACE NOR TIME TO CONDUCT TRAINING. INSTEAD; INCREASED DISCIPLINE TOWARD KEEPING A STERILE COCKPIT MAY HAVE MINIMIZED DISTRS DURING THE APCH PHASE. IN THE FUTURE; I WILL FLY AS I TRAIN AND WILL SUGGEST THAT TRAINING BE CONDUCTED DURING TRAINING FLTS AND NOT DURING NORMAL BUSINESS OPS.