Council of Elrond

Wizard's Test wrote:Spell. Wizard only, and only if a character in his company has a Gold Ring. Play to test a Gold Ring; make two rolls (or draw two #'s) and choose one result to use for the test. Wizard makes a corruption check modified by -1.

My Wizard bears a gold ring and tests it with WT. The result is The One Ring. Is the following corruption check modified by the CP the new ring would give it's bearer (i.e. 7 CP for The One Ring) or does he have to roll against the CP of the gold ring item?

cc takes place after replacing gold ring item with special ring item (if such is available).

Good that you say that! Otherwise I would made (another) big mistake at German Nationals.