Going up
PF: (Upon passing transition altitude) "Set standard"
PNF: (Sets his side and standby instruments) and says "Standard set and cross-checked.....passing FL ___ now"
PF: "Checked"
Coming down
PF: (Upon passing transition level) "Set QNH ____"
PNF: (Sets his side and standby instruments) and says "QNH ___ set and cross-checked.....passing FL ___ now"
PF: "Checked"