diff --git a/core/dbt/clients/jinja.py b/core/dbt/clients/jinja.py
index e72c1b21366..2dd08fe890b 100644
--- a/core/dbt/clients/jinja.py
+++ b/core/dbt/clients/jinja.py
@@ -630,5 +630,7 @@ def _convert_function(value: Any, keypath: Tuple[Union[str, int], ...]) -> Any:
 
     # The test_metadata.kwargs come from the test builder, and were set
     # when the test node was created in _parse_generic_test.
+    # Overwrite them with the rendered versions during test compilation
     kwargs = deep_map_render(_convert_function, node.test_metadata.kwargs)
+    node.test_metadata.kwargs = kwargs
     context[GENERIC_TEST_KWARGS_NAME] = kwargs
diff --git a/core/dbt/include/global_project/macros/materializations/tests/helpers.sql b/core/dbt/include/global_project/macros/materializations/tests/helpers.sql
index 2592af3c92e..32e49c3c077 100644
--- a/core/dbt/include/global_project/macros/materializations/tests/helpers.sql
+++ b/core/dbt/include/global_project/macros/materializations/tests/helpers.sql
@@ -3,7 +3,7 @@
 {%- endmacro %}
 
 {% macro default__get_test_sql(main_sql, fail_calc, warn_if, error_if, limit) -%}
-    {% set model_name = model.file_key_name.split('.')[1] %}
+    {% set model_name = model.test_metadata.kwargs.model %}
     {% set warn_if, warn_pct_division = get_pct_division(warn_if, model_name) %}
     {% set error_if, error_pct_division = get_pct_division(error_if, model_name) %}