Does the cooldown reduction buff exceed the 40% cap?

In Smite, the blue "jungle buff", represented by what seems to be a blue mana potion, provides "+5 mana per second and 10% cooldown reduction" (CDR). The maximum amount of cooldown reduction that can be provided by items is 40%. Does the buff stack with items to provide total cooldown reduction >40%?
I suppose one way to form a theory to test this is to see if the buff affects one's listed CDR (seen one way by hovering one's cursor over one's magic stat in the scoreboard).

Solution 1:

No. The maximum cooldown reduction provided by items and buffs is 40% and cannot be increased further.

However, this does not restrict skills-toggled cooldown reductions.