I cant seem to figure out how they come up with the 1.65 deviations number. Can someone please help? Thank you.

Have you forgotten Level I Quant so soon?

It’s from the Standard Normal Distribution table. You can refer to Appendix A in Book 1 (Page 813). For z = -1.65, the cumulative probability is 0.0495

Thank you, turns out I was looking at the wrong table where the Std Dev was 1.96. It went right over my head.

i was guessing you looked at 1.96 too, which is for two tails. For VaR, it is one-tailed (specifically, left tailed).