diff --git a/enterprise_access/apps/api/v1/tests/test_subsidy_access_policy_views.py b/enterprise_access/apps/api/v1/tests/test_subsidy_access_policy_views.py
index 8fd75389..a95af162 100755
--- a/enterprise_access/apps/api/v1/tests/test_subsidy_access_policy_views.py
+++ b/enterprise_access/apps/api/v1/tests/test_subsidy_access_policy_views.py
@@ -1784,6 +1784,13 @@ def setup_mocks(self):
         lms_client_instance = lms_client.return_value
         lms_client_instance.get_enterprise_user.return_value = TEST_USER_RECORD
 
+        catalog_get_and_cache_content_metadata_patcher = mock.patch(
+            'enterprise_access.apps.api.v1.views.subsidy_access_policy.get_and_cache_content_metadata',
+        )
+        self.mock_catalog_get_and_cache_content_metadata = catalog_get_and_cache_content_metadata_patcher.start()
+        self.mock_catalog_get_and_cache_content_metadata.return_value = {}
+
+        self.addCleanup(catalog_get_and_cache_content_metadata_patcher.stop)
         self.addCleanup(lms_client_patcher.stop)
         self.addCleanup(subsidy_client_patcher.stop)
         self.addCleanup(contains_key_patcher.stop)
@@ -1956,6 +1963,12 @@ def test_can_redeem_policy_none_redeemable(
             'unit': 'usd_cents',
             'all_transactions': [],
         }
+        self.mock_catalog_get_and_cache_content_metadata.return_value = {
+            'normalized_metadata': {
+                'content_price': 50,  # normalized_metadata always serializes USD.
+            },
+            'normalized_metadata_by_run': {},
+        }
         test_content_key_1 = "course-v1:edX+Privacy101+3T2020"
         test_content_key_2 = "course-v1:edX+Privacy101+3T2020_2"
         test_content_key_1_metadata_price = 29900
@@ -1996,9 +2009,9 @@ def mock_get_subsidy_content_data(*args, **kwargs):
 
         # Check the response for the first content_key given.
         assert response_list[0]["content_key"] == test_content_key_1
-        # We should not assume that a list price is fetchable if the
-        # content cant' be redeemed - the content may not be in any catalog for any policy.
-        assert response_list[0]["list_price"] is None
+        # When there's no redeemable policy, the price returned is the current
+        # fixed price fetched directly from catalog.
+        assert response_list[0]["list_price"] == {'usd': 50.0, 'usd_cents': 5000}
         assert len(response_list[0]["redemptions"]) == 0
         assert response_list[0]["has_successful_redemption"] is False
         assert response_list[0]["redeemable_subsidy_access_policy"] is None
@@ -2031,7 +2044,7 @@ def mock_get_subsidy_content_data(*args, **kwargs):
 
         # Check the response for the second content_key given.
         assert response_list[1]["content_key"] == test_content_key_2
-        assert response_list[1]["list_price"] is None
+        assert response_list[1]["list_price"] == {'usd': 50.0, 'usd_cents': 5000}
 
         assert len(response_list[1]["redemptions"]) == 0
         assert response_list[1]["has_successful_redemption"] is False
@@ -2263,6 +2276,12 @@ def test_can_redeem_policy_beyond_enrollment_deadline(self, mock_lms_client, moc
             "content_price": 1234,
             "enroll_by_date": '2001-01-01T00:00:00Z',
         }
+        self.mock_catalog_get_and_cache_content_metadata.return_value = {
+            'normalized_metadata': {
+                'content_price': 12.34,  # normalized_metadata always serializes USD.
+            },
+            'normalized_metadata_by_run': {},
+        }
 
         with mock.patch(
             'enterprise_access.apps.subsidy_access_policy.content_metadata_api.get_and_cache_content_metadata',
@@ -2368,6 +2387,13 @@ def test_can_redeem_lms_user_id_override_for_staff(
             'content_price': 19900,
         }
         self.mock_get_content_metadata.return_value = mock_subsidy_content_data
+        self.mock_catalog_get_and_cache_content_metadata.return_value = {
+            'normalized_metadata': {
+                'content_price': 199.00,  # normalized_metadata always serializes USD.
+            },
+            'normalized_metadata_by_run': {},
+        }
+
         query_params = {'content_key': test_content_key}
         if lms_user_id_override:
             query_params['lms_user_id'] = lms_user_id_override
@@ -2793,6 +2819,12 @@ def test_can_redeem_no_assignment_for_content(
             "content_price": content_key_for_redemption_metadata_price,
         }
         self.mock_get_content_metadata.return_value = mock_get_subsidy_content_data
+        self.mock_catalog_get_and_cache_content_metadata.return_value = {
+            'normalized_metadata': {
+                'content_price': content_key_for_redemption_metadata_price / 100,
+            },
+            'normalized_metadata_by_run': {},
+        }
 
         # It's an unredeemable response, so mock out some admin users to return
         mock_lms_client.return_value.get_enterprise_customer_data.return_value = {
@@ -2816,7 +2848,10 @@ def test_can_redeem_no_assignment_for_content(
 
         # Check the response for the first content_key given.
         assert response_list[0]["content_key"] == content_key_for_redemption
-        assert response_list[0]["list_price"] is None
+        assert response_list[0]["list_price"] == {
+            'usd': content_key_for_redemption_metadata_price / 100.0,
+            'usd_cents': content_key_for_redemption_metadata_price,
+        }
         assert response_list[0]["redemptions"] == []
         assert response_list[0]["has_successful_redemption"] is False
         assert response_list[0]["redeemable_subsidy_access_policy"] is None
diff --git a/enterprise_access/apps/api/v1/views/subsidy_access_policy.py b/enterprise_access/apps/api/v1/views/subsidy_access_policy.py
index b0a3b463..6c314a2f 100755
--- a/enterprise_access/apps/api/v1/views/subsidy_access_policy.py
+++ b/enterprise_access/apps/api/v1/views/subsidy_access_policy.py
@@ -27,6 +27,7 @@
 from enterprise_access.apps.api.mixins import UserDetailsFromJwtMixin
 from enterprise_access.apps.api_client.lms_client import LmsApiClient
 from enterprise_access.apps.content_assignments.api import AllocationException
+from enterprise_access.apps.content_metadata.api import get_and_cache_content_metadata
 from enterprise_access.apps.core.constants import (
     SUBSIDY_ACCESS_POLICY_ALLOCATION_PERMISSION,
     SUBSIDY_ACCESS_POLICY_READ_PERMISSION,
@@ -53,6 +54,7 @@
     MissingSubsidyAccessReasonUserMessages,
     TransactionStateChoices
 )
+from enterprise_access.apps.subsidy_access_policy.content_metadata_api import make_list_price_dict
 from enterprise_access.apps.subsidy_access_policy.exceptions import (
     ContentPriceNullException,
     MissingAssignment,
@@ -744,13 +746,18 @@ def can_redeem(self, request, enterprise_customer_uuid):
             redeemable_policies = []
             non_redeemable_policies = []
             resolved_policy = None
-            list_price = None
+            list_price_dict = None
 
-            redemptions_by_policy_uuid = redemptions_by_content_and_policy[content_key]
+            redemptions_by_policy = redemptions_by_content_and_policy[content_key]
+            policy_by_redemption_uuid = {
+                redemption['uuid']: policy
+                for policy, redemptions in redemptions_by_policy.items()
+                for redemption in redemptions
+            }
             # Flatten dict of lists because the response doesn't need to be bucketed by policy_uuid.
             redemptions = [
                 redemption
-                for redemptions in redemptions_by_policy_uuid.values()
+                for redemptions in redemptions_by_policy.values()
                 for redemption in redemptions
             ]
 
@@ -787,19 +794,32 @@ def can_redeem(self, request, enterprise_customer_uuid):
 
             try:
                 if resolved_policy:
-                    list_price = resolved_policy.get_list_price(lms_user_id, content_key)
+                    list_price_dict = resolved_policy.get_list_price(lms_user_id, content_key)
                 elif successful_redemptions:
-                    # Get the policy record used at time of successful redemption.
-                    # [2023-12-05] TODO: consider cleaning this up.
-                    # This is kind of silly, b/c we only need this policy to compute the
-                    # list price, and it's really only *necessary* to fetch that price
-                    # from within the context of a *policy record* for cases where that successful
-                    # policy was assignment-based (because the list price for assignments might
-                    # slightly different from the current list price in the canonical content metadata).
-                    successfully_redeemed_policy = self.get_queryset().filter(
-                        uuid=successful_redemptions[0]['subsidy_access_policy_uuid'],
-                    ).first()
-                    list_price = successfully_redeemed_policy.get_list_price(lms_user_id, content_key)
+                    # Get the policy used for redemption and use that to compute the price. If the redemption was the
+                    # result of assignment, the historical assignment price might differ from the canonical price. We
+                    # prefer to display the redeemed price to avoid confusion.
+                    successfully_redeemed_policy = policy_by_redemption_uuid[successful_redemptions[0]['uuid']]
+                    list_price_dict = successfully_redeemed_policy.get_list_price(lms_user_id, content_key)
+                else:
+                    # In the case where the learner cannot redeem and has never redeemed this content, bypass the
+                    # subsidy metadata endpoint and go straight to the source (enterprise-catalog) to find normalized
+                    # price data. In this case, the list price returned rarely actually drives the display price in the
+                    # learner portal frontend, but we still need to maintain a non-null list price for a few reasons:
+                    # * Enterprise customers that leverage the API directly always expect a non-null price.
+                    # * On rare occasion, this price actually does drive the price display in learner-portal.  We think
+                    #   this can happen when courses are searchable and there is an assignment-based policy, but nothing
+                    #   has been assigned.
+                    # * Long-term, we will use can_redeem for all subsidy types, at which point we will also rely on
+                    #   this list_price for price display 100% of the time.
+                    course_metadata = get_and_cache_content_metadata(content_key, coerce_to_parent_course=True)
+                    decimal_dollars = (
+                        course_metadata['normalized_metadata_by_run'].get(content_key, {}).get('content_price') or
+                        course_metadata['normalized_metadata'].get('content_price')
+                    )
+                    if decimal_dollars is None:
+                        raise ContentPriceNullException('Failed to obtain content price from enterprise-catalog.')
+                    list_price_dict = make_list_price_dict(decimal_dollars=decimal_dollars)
             except ContentPriceNullException as exc:
                 raise RedemptionRequestException(
                     detail=f'Could not determine list price for content_key: {content_key}',
@@ -807,7 +827,7 @@ def can_redeem(self, request, enterprise_customer_uuid):
 
             element_response = {
                 "content_key": content_key,
-                "list_price": list_price,
+                "list_price": list_price_dict,
                 "redemptions": redemptions,
                 "has_successful_redemption": bool(successful_redemptions),
                 "redeemable_subsidy_access_policy": resolved_policy,
diff --git a/enterprise_access/apps/api_client/enterprise_catalog_client.py b/enterprise_access/apps/api_client/enterprise_catalog_client.py
index d1941530..a1592e84 100644
--- a/enterprise_access/apps/api_client/enterprise_catalog_client.py
+++ b/enterprise_access/apps/api_client/enterprise_catalog_client.py
@@ -1,6 +1,8 @@
 """
 API client for enterprise-catalog service.
 """
+from urllib.parse import urljoin
+
 import backoff
 from django.conf import settings
 
@@ -10,10 +12,14 @@
 
 class EnterpriseCatalogApiClient(BaseOAuthClient):
     """
-    API client for calls to the enterprise catalog service.
+    V2 API client for calls to the enterprise catalog service.
     """
-    api_base_url = settings.ENTERPRISE_CATALOG_URL + '/api/v2/'
-    enterprise_catalog_endpoint = api_base_url + 'enterprise-catalogs/'
+    api_version = 'v2'
+
+    def __init__(self):
+        self.api_base_url = urljoin(settings.ENTERPRISE_CATALOG_URL, f'api/{self.api_version}/')
+        self.enterprise_catalog_endpoint = urljoin(self.api_base_url, 'enterprise-catalogs/')
+        super().__init__()
 
     @backoff.on_exception(wait_gen=backoff.expo, exception=autoretry_for_exceptions)
     def contains_content_items(self, catalog_uuid, content_ids):
@@ -84,3 +90,37 @@ def get_content_metadata_count(self, catalog_uuid):
         response = self.client.get(endpoint)
         response.raise_for_status()
         return response.json()['count']
+
+    def content_metadata(self, content_id):
+        raise NotImplementedError('There is currently no v2 API implementation for this endpoint.')
+
+
+class EnterpriseCatalogApiV1Client(EnterpriseCatalogApiClient):
+    """
+    V1 API client for calls to the enterprise catalog service.
+    """
+    api_version = 'v1'
+
+    def __init__(self):
+        super().__init__()
+        self.content_metadata_endpoint = urljoin(self.api_base_url, 'content-metadata/')
+
+    @backoff.on_exception(wait_gen=backoff.expo, exception=autoretry_for_exceptions)
+    def content_metadata(self, content_id, coerce_to_parent_course=False):
+        """
+        Fetch catalog-/customer-agnostic content metadata.
+
+        Arguments:
+            content_id (str): ID of content to fetch.
+
+        Returns:
+            dict: serialized content metadata, or None if not found.
+        """
+        query_params = {}
+        if coerce_to_parent_course:
+            query_params |= {'coerce_to_parent_course': True}
+        kwargs = {'params': query_params} if query_params else {}
+        endpoint = self.content_metadata_endpoint + content_id
+        response = self.client.get(endpoint, **kwargs)
+        response.raise_for_status()
+        return response.json()
diff --git a/enterprise_access/apps/api_client/tests/test_enterprise_catalog_client.py b/enterprise_access/apps/api_client/tests/test_enterprise_catalog_client.py
index 9405c429..2703f1f1 100644
--- a/enterprise_access/apps/api_client/tests/test_enterprise_catalog_client.py
+++ b/enterprise_access/apps/api_client/tests/test_enterprise_catalog_client.py
@@ -5,11 +5,15 @@
 from unittest import mock
 from uuid import uuid4
 
+import ddt
 from django.test import TestCase
 from requests import Response
 from requests.exceptions import HTTPError
 
-from enterprise_access.apps.api_client.enterprise_catalog_client import EnterpriseCatalogApiClient
+from enterprise_access.apps.api_client.enterprise_catalog_client import (
+    EnterpriseCatalogApiClient,
+    EnterpriseCatalogApiV1Client
+)
 
 
 class TestEnterpriseCatalogApiClient(TestCase):
@@ -111,3 +115,56 @@ def test_get_content_metadata_count(self, mock_oauth_client):
         mock_oauth_client.return_value.get.assert_called_with(
             f'http://enterprise-catalog.example.com/api/v2/enterprise-catalogs/{catalog_uuid}/get_content_metadata/',
         )
+
+
+@ddt.ddt
+class TestEnterpriseCatalogApiV1Client(TestCase):
+    """
+    Test EnterpriseCatalogApiV1Client.
+    """
+
+    @ddt.data(
+        {'coerce_to_parent_course': False},
+        {'coerce_to_parent_course': True},
+    )
+    @ddt.unpack
+    @mock.patch('enterprise_access.apps.api_client.base_oauth.OAuthAPIClient')
+    def test_content_metadata(self, mock_oauth_client, coerce_to_parent_course):
+        content_key = 'course+A'
+        mock_response_json = {
+            'key': content_key,
+            'other_metadata': 'foo',
+        }
+
+        request_response = Response()
+        request_response.status_code = 200
+        mock_oauth_client.return_value.get.return_value.json.return_value = mock_response_json
+
+        client = EnterpriseCatalogApiV1Client()
+        fetched_metadata = client.content_metadata(content_key, coerce_to_parent_course=coerce_to_parent_course)
+
+        self.assertEqual(fetched_metadata, mock_response_json)
+        expected_query_params_kwarg = {}
+        if coerce_to_parent_course:
+            expected_query_params_kwarg |= {'params': {'coerce_to_parent_course': True}}
+        mock_oauth_client.return_value.get.assert_called_with(
+            f'http://enterprise-catalog.example.com/api/v1/content-metadata/{content_key}',
+            **expected_query_params_kwarg,
+        )
+
+    @mock.patch('enterprise_access.apps.api_client.base_oauth.OAuthAPIClient')
+    def test_content_metadata_raises_http_error(self, mock_oauth_client):
+        content_key = 'course+A'
+        request_response = Response()
+        request_response.status_code = 400
+
+        mock_oauth_client.return_value.get.return_value = request_response
+
+        client = EnterpriseCatalogApiV1Client()
+
+        with self.assertRaises(HTTPError):
+            client.content_metadata(content_key)
+
+        mock_oauth_client.return_value.get.assert_called_with(
+            f'http://enterprise-catalog.example.com/api/v1/content-metadata/{content_key}',
+        )
diff --git a/enterprise_access/apps/content_metadata/api.py b/enterprise_access/apps/content_metadata/api.py
index ea9a5513..b1fe8d62 100644
--- a/enterprise_access/apps/content_metadata/api.py
+++ b/enterprise_access/apps/content_metadata/api.py
@@ -7,11 +7,11 @@
 
 from django.conf import settings
 from django.core.cache import cache
-from requests.exceptions import HTTPError
+from edx_django_utils.cache import TieredCache
 
 from enterprise_access.cache_utils import versioned_cache_key
 
-from ..api_client.enterprise_catalog_client import EnterpriseCatalogApiClient
+from ..api_client.enterprise_catalog_client import EnterpriseCatalogApiClient, EnterpriseCatalogApiV1Client
 
 logger = logging.getLogger(__name__)
 
@@ -64,7 +64,7 @@ def get_and_cache_catalog_content_metadata(
     # Here's the list of results fetched from the catalog service
     fetched_metadata = []
     if keys_to_fetch:
-        fetched_metadata = _fetch_metadata_with_client(enterprise_catalog_uuid, keys_to_fetch)
+        fetched_metadata = _fetch_catalog_content_metadata_with_client(enterprise_catalog_uuid, keys_to_fetch)
 
     # Do a bulk set into the cache of everything we just had to fetch from the catalog service
     content_metadata_to_cache = {}
@@ -91,22 +91,57 @@ def get_and_cache_catalog_content_metadata(
     return metadata_results_list
 
 
-def _fetch_metadata_with_client(enterprise_catalog_uuid, content_keys):
+def _fetch_catalog_content_metadata_with_client(enterprise_catalog_uuid, content_keys):
     """
     Helper to isolate the task of fetching content metadata via our client.
     """
     client = EnterpriseCatalogApiClient()
-    try:
-        response_payload = client.catalog_content_metadata(
-            enterprise_catalog_uuid,
-            list(content_keys),
-        )
-        results = response_payload['results']
-        logger.info(
-            'Fetched content metadata in catalog %s for the following content keys: %s',
-            enterprise_catalog_uuid,
-            [record.get('key') for record in results],
+    response_payload = client.catalog_content_metadata(
+        enterprise_catalog_uuid,
+        list(content_keys),
+    )
+    results = response_payload['results']
+    logger.info(
+        'Fetched content metadata in catalog %s for the following content keys: %s',
+        enterprise_catalog_uuid,
+        [record.get('key') for record in results],
+    )
+    return results
+
+
+def get_and_cache_content_metadata(
+    content_identifier,
+    coerce_to_parent_course=False,
+    timeout=settings.CONTENT_METADATA_CACHE_TIMEOUT,
+):
+    """
+    Fetch & cache content metadata from the enterprise-catalog catalog-/customer-agnostic endoint.
+
+    Returns:
+        dict: Serialized content metadata from the enterprise-catalog API.
+
+    Raises:
+        HTTPError: If there's a problem calling the enterprise-catalog API.
+    """
+    cache_key = versioned_cache_key(
+        'get_and_cache_content_metadata',
+        content_identifier,
+        f'coerce_to_parent_course={coerce_to_parent_course}',
+    )
+    cached_response = TieredCache.get_cached_response(cache_key)
+    if cached_response.is_found:
+        return cached_response.value
+
+    content_metadata = EnterpriseCatalogApiV1Client().content_metadata(
+        content_identifier,
+        coerce_to_parent_course=coerce_to_parent_course,
+    )
+    if content_metadata:
+        TieredCache.set_all_tiers(
+            cache_key,
+            content_metadata,
+            django_cache_timeout=timeout,
         )
-        return results
-    except HTTPError as exc:
-        raise exc
+    else:
+        logger.warning('Could not fetch metadata for content %s', content_identifier)
+    return content_metadata
diff --git a/enterprise_access/apps/content_metadata/tests/test_api.py b/enterprise_access/apps/content_metadata/tests/test_api.py
index 3e32f113..721244b4 100644
--- a/enterprise_access/apps/content_metadata/tests/test_api.py
+++ b/enterprise_access/apps/content_metadata/tests/test_api.py
@@ -6,6 +6,7 @@
 from uuid import uuid4
 
 from django.test import TestCase
+from edx_django_utils.cache import TieredCache
 from requests.exceptions import HTTPError
 
 from enterprise_access.apps.content_metadata import api
@@ -15,10 +16,15 @@ class TestContentMetadataApi(TestCase):
     """
     Tests the content_metadata/api.py functions.
     """
+    def tearDown(self):
+        super().tearDown()
+        # Clear the cache to prevent cache bleed across tests.
+        TieredCache.dangerous_clear_all_tiers()
+
     @mock.patch('enterprise_access.apps.content_metadata.api.EnterpriseCatalogApiClient', autospec=True)
-    def test_get_and_cache_metadata_happy_path(self, mock_client_class):
+    def test_get_and_cache_catalog_content_metadata_happy_path(self, mock_client_class):
         content_keys = ['course+A', 'course+B']
-        customer_uuid = uuid4()
+        catalog_uuid = uuid4()
         # Mock results from the catalog content metadata API endpoint.
         mock_result = {
             'count': 2,
@@ -29,17 +35,17 @@ def test_get_and_cache_metadata_happy_path(self, mock_client_class):
         mock_client = mock_client_class.return_value
         mock_client.catalog_content_metadata.return_value = mock_result
 
-        metadata_list = api.get_and_cache_catalog_content_metadata(customer_uuid, content_keys)
+        metadata_list = api.get_and_cache_catalog_content_metadata(catalog_uuid, content_keys)
 
         self.assertEqual(mock_client.catalog_content_metadata.call_count, 1)
         # tease apart the call args, because the client is passed a set() of content keys to fetch
         call_args, _ = mock_client.catalog_content_metadata.call_args_list[0]
-        self.assertEqual(call_args[0], customer_uuid)
+        self.assertEqual(call_args[0], catalog_uuid)
         self.assertEqual(sorted(call_args[1]), sorted(content_keys))
         self.assertEqual(metadata_list, mock_result['results'])
 
         # ask again to hit the cache, ensure that we're still at only one client fetch
-        metadata_list = api.get_and_cache_catalog_content_metadata(customer_uuid, content_keys)
+        metadata_list = api.get_and_cache_catalog_content_metadata(catalog_uuid, content_keys)
 
         self.assertEqual(mock_client.catalog_content_metadata.call_count, 1)
         self.assertEqual(metadata_list, mock_result['results'])
@@ -60,13 +66,13 @@ def test_get_and_cache_metadata_happy_path(self, mock_client_class):
             ],
         }
 
-        new_metadata_list = api.get_and_cache_catalog_content_metadata(customer_uuid, new_content_keys)
+        new_metadata_list = api.get_and_cache_catalog_content_metadata(catalog_uuid, new_content_keys)
 
         # Should only have requested courses C and D via the client
         # tease apart the call args, because the client is passed a set() of content keys to fetch
         self.assertEqual(mock_client.catalog_content_metadata.call_count, 2)
         call_args, _ = mock_client.catalog_content_metadata.call_args_list[1]
-        self.assertEqual(call_args[0], customer_uuid)
+        self.assertEqual(call_args[0], catalog_uuid)
         self.assertEqual(sorted(call_args[1]), ['course+C', 'course+D'])
 
         # And there will be results for courses B and C, but no result for course D
@@ -79,16 +85,67 @@ def test_get_and_cache_metadata_happy_path(self, mock_client_class):
         )
 
     @mock.patch('enterprise_access.apps.content_metadata.api.EnterpriseCatalogApiClient', autospec=True)
-    def test_get_and_cache_metadata_http_error(self, mock_client_class):
+    def test_get_and_cache_catalog_content_metadata_http_error(self, mock_client_class):
         content_keys = ['course+A', 'course+B']
-        customer_uuid = uuid4()
+        catalog_uuid = uuid4()
         mock_client = mock_client_class.return_value
         mock_client.catalog_content_metadata.side_effect = HTTPError('oh barnacles')
 
         with self.assertRaisesRegex(HTTPError, 'oh barnacles'):
-            api.get_and_cache_catalog_content_metadata(customer_uuid, content_keys)
+            api.get_and_cache_catalog_content_metadata(catalog_uuid, content_keys)
 
         # tease apart the call args, because the client is passed a set() of content keys to fetch
         call_args, _ = mock_client.catalog_content_metadata.call_args_list[0]
-        self.assertEqual(call_args[0], customer_uuid)
+        self.assertEqual(call_args[0], catalog_uuid)
         self.assertEqual(sorted(call_args[1]), sorted(content_keys))
+
+    @mock.patch('enterprise_access.apps.content_metadata.api.EnterpriseCatalogApiV1Client', autospec=True)
+    def test_get_and_cache_content_metadata_happy_path(self, mock_client_class):
+        content_key = 'course+A'
+        # Mock results from the content metadata API endpoint.
+        mock_result = {
+            'key': 'course+A',
+            'data': 'things',
+        }
+        mock_client = mock_client_class.return_value
+        mock_client.content_metadata.return_value = mock_result
+
+        metadata = api.get_and_cache_content_metadata(content_key)
+
+        self.assertEqual(mock_client.content_metadata.call_count, 1)
+        call_args, _ = mock_client.content_metadata.call_args_list[0]
+        self.assertEqual(call_args[0], content_key)
+        self.assertEqual(metadata, mock_result)
+
+        # ask again to hit the cache, ensure that we're still at only one client fetch
+        metadata = api.get_and_cache_content_metadata(content_key)
+
+        self.assertEqual(mock_client.content_metadata.call_count, 1)
+        self.assertEqual(metadata, mock_result)
+
+        # Now get-and-cache again, but this time request key is different.
+        new_content_key = 'course+B'
+        new_mock_result = {
+            'key': 'course+B',
+            'data': 'things',
+        }
+        mock_client.content_metadata.return_value = new_mock_result
+
+        new_metadata = api.get_and_cache_content_metadata(new_content_key)
+
+        self.assertEqual(mock_client.content_metadata.call_count, 2)
+        call_args, _ = mock_client.content_metadata.call_args_list[-1]
+        self.assertEqual(call_args[0], new_content_key)
+        self.assertEqual(new_metadata, new_mock_result)
+
+    @mock.patch('enterprise_access.apps.content_metadata.api.EnterpriseCatalogApiV1Client', autospec=True)
+    def test_get_and_cache_content_metadata_http_error(self, mock_client_class):
+        content_key = 'course+A'
+        mock_client = mock_client_class.return_value
+        mock_client.content_metadata.side_effect = HTTPError('oh barnacles')
+
+        with self.assertRaisesRegex(HTTPError, 'oh barnacles'):
+            api.get_and_cache_content_metadata(content_key)
+
+        call_args, _ = mock_client.content_metadata.call_args_list[0]
+        self.assertEqual(call_args[0], content_key)
diff --git a/enterprise_access/apps/subsidy_access_policy/content_metadata_api.py b/enterprise_access/apps/subsidy_access_policy/content_metadata_api.py
index c3288ad9..2a5c2be9 100644
--- a/enterprise_access/apps/subsidy_access_policy/content_metadata_api.py
+++ b/enterprise_access/apps/subsidy_access_policy/content_metadata_api.py
@@ -111,21 +111,36 @@ def get_list_price_for_content(enterprise_customer_uuid, content_key, content_me
             raise ContentPriceNullException(f'Could not determine list price for {content_key}') from exc
 
     # Note that the "content_price" key is guaranteed to exist, but the value may be None.
-    return list_price_dict_from_usd_cents(content_metadata['content_price'])
+    return make_list_price_dict(integer_cents=content_metadata['content_price'])
 
 
-def list_price_dict_from_usd_cents(list_price_integer_cents):
+def make_list_price_dict(decimal_dollars=None, integer_cents=None):
     """
-    Helper to compute a list price dictionary given the non-negative price of the content in USD cents.
+    Helper to compute a list price dictionary given the non-negative price of the content.
+
+    Usage:
+        list_price_dict = make_list_price_dict(decimal_dollars=100.00)
+        list_price_dict = make_list_price_dict(integer_cents=10000)
+
+    Args:
+        decimal_dollars (float): Content price in USD dollars. Must only be specified if ``integer_cents`` is None.
+        integer_cents (int): Content price in USD cents. Must only be specified if ``decimal_dollars`` is None.
+
+    Raises:
+        ValueError if neither OR both arguments were specified.
     """
-    list_price_decimal_dollars = None
-    if list_price_integer_cents is not None:
-        list_price_decimal_dollars = Decimal(list_price_integer_cents) / 100
-
-    return {
-        "usd": list_price_decimal_dollars,
-        "usd_cents": list_price_integer_cents,
-    }
+    if decimal_dollars is None and integer_cents is not None:
+        return {
+            "usd": Decimal(integer_cents) / 100,
+            "usd_cents": integer_cents,
+        }
+    elif decimal_dollars is not None and integer_cents is None:
+        return {
+            "usd": decimal_dollars,
+            "usd_cents": int(Decimal(decimal_dollars) * 100),
+        }
+    else:
+        raise ValueError("Only one of `decimal_dollars` or `integer_cents` can be passed.")
 
 
 def enroll_by_datetime(content_metadata):
diff --git a/enterprise_access/apps/subsidy_access_policy/models.py b/enterprise_access/apps/subsidy_access_policy/models.py
index ddad7e99..1d9bdfb5 100644
--- a/enterprise_access/apps/subsidy_access_policy/models.py
+++ b/enterprise_access/apps/subsidy_access_policy/models.py
@@ -52,7 +52,7 @@
     get_and_cache_catalog_contains_content,
     get_and_cache_content_metadata,
     get_list_price_for_content,
-    list_price_dict_from_usd_cents
+    make_list_price_dict
 )
 from .customer_api import get_and_cache_enterprise_learner_record
 from .exceptions import (
@@ -1391,7 +1391,7 @@ def get_list_price(self, lms_user_id, content_key):
             return super().get_list_price(lms_user_id, content_key)
         # an assignment's content_quantity is always <= 0 to express the fact
         # that value has been consumed from a subsidy (though not necessarily fulfilled)
-        return list_price_dict_from_usd_cents(found_assignment.content_quantity * -1)
+        return make_list_price_dict(integer_cents=found_assignment.content_quantity * -1)
 
     def can_redeem(
         self, lms_user_id, content_key,
diff --git a/enterprise_access/apps/subsidy_access_policy/subsidy_api.py b/enterprise_access/apps/subsidy_access_policy/subsidy_api.py
index 3dc0152c..b213e475 100644
--- a/enterprise_access/apps/subsidy_access_policy/subsidy_api.py
+++ b/enterprise_access/apps/subsidy_access_policy/subsidy_api.py
@@ -134,7 +134,7 @@ def get_redemptions_by_content_and_policy_for_learner(policies, lms_user_id):
     """
     policies_by_subsidy_uuid = defaultdict(set)
     for policy in policies:
-        policies_by_subsidy_uuid[policy.subsidy_uuid].add(str(policy.uuid))
+        policies_by_subsidy_uuid[policy.subsidy_uuid].add(policy)
 
     result = defaultdict(lambda: defaultdict(list))
 
@@ -146,8 +146,15 @@ def get_redemptions_by_content_and_policy_for_learner(policies, lms_user_id):
             content_key = redemption['content_key']
             subsidy_access_policy_uuid = redemption['subsidy_access_policy_uuid']
 
-            if subsidy_access_policy_uuid in policies_with_subsidy:
-                result[content_key][subsidy_access_policy_uuid].append(redemption)
+            matching_policies = [
+                policy for policy in policies_with_subsidy
+                if str(policy.uuid) == subsidy_access_policy_uuid
+            ]
+            # We can assume there's at most one matching policy because the ``policies`` arg passed into this function
+            # should not contain duplicates.
+            matching_policy = matching_policies[0] if matching_policies else None
+            if matching_policy:
+                result[content_key][matching_policy].append(redemption)
             else:
                 logger.warning(
                     f"Transaction {transaction_uuid} has unmatched policy uuid for subsidy {subsidy_uuid}: "
diff --git a/enterprise_access/apps/subsidy_access_policy/tests/test_content_metadata_api.py b/enterprise_access/apps/subsidy_access_policy/tests/test_content_metadata_api.py
new file mode 100644
index 00000000..126a48d0
--- /dev/null
+++ b/enterprise_access/apps/subsidy_access_policy/tests/test_content_metadata_api.py
@@ -0,0 +1,67 @@
+"""
+Test content_metadata_api.py
+"""
+import contextlib
+
+import ddt
+from django.test import TestCase
+
+from enterprise_access.apps.subsidy_access_policy.content_metadata_api import make_list_price_dict
+
+
+@ddt.ddt
+class ContentMetadataApiTests(TestCase):
+    """
+    Test various functions inside content_metadata_api.py
+    """
+
+    @ddt.data(
+        # Standard happy path.
+        {
+            "decimal_dollars": 10.5,
+            "integer_cents": None,
+            "expected_result": {"usd": 10.5, "usd_cents": 1050},
+        },
+        # Standard happy path.
+        {
+            "decimal_dollars": None,
+            "integer_cents": 1050,
+            "expected_result": {"usd": 10.5, "usd_cents": 1050},
+        },
+        # Weird precision input just gets passed along as-is.
+        {
+            "decimal_dollars": 10.503,
+            "integer_cents": None,
+            "expected_result": {"usd": 10.503, "usd_cents": 1050},
+        },
+        # All None.
+        {
+            "decimal_dollars": None,
+            "integer_cents": None,
+            "expect_raises": ValueError,
+        },
+        # All defined.
+        {
+            "decimal_dollars": 10.5,
+            "integer_cents": 1050,
+            "expect_raises": ValueError,
+        },
+    )
+    @ddt.unpack
+    def test_make_list_price_dict(
+        self,
+        decimal_dollars,
+        integer_cents,
+        expected_result=None,
+        expect_raises=None,
+    ):
+        cm = contextlib.nullcontext()
+        if expect_raises:
+            cm = self.assertRaises(expect_raises)
+        with cm:
+            actual_result = make_list_price_dict(
+                decimal_dollars=decimal_dollars,
+                integer_cents=integer_cents,
+            )
+        if not expect_raises:
+            assert actual_result == expected_result
diff --git a/enterprise_access/apps/subsidy_access_policy/tests/test_subsidy_api.py b/enterprise_access/apps/subsidy_access_policy/tests/test_subsidy_api.py
index 476299f4..c31e4193 100644
--- a/enterprise_access/apps/subsidy_access_policy/tests/test_subsidy_api.py
+++ b/enterprise_access/apps/subsidy_access_policy/tests/test_subsidy_api.py
@@ -145,9 +145,9 @@ def test_redemptions_by_content_and_policy(self, mock_transaction_cache):
 
         self.assertEqual(
             {
-                'content-1': {str(cherry_policy.uuid): [mock_pie_transactions[0]]},
-                'content-2': {str(apple_policy.uuid): [mock_pie_transactions[1]]},
-                'content-3': {str(german_chocolate_policy.uuid): [mock_cake_transactions[0]]},
+                'content-1': {cherry_policy: [mock_pie_transactions[0]]},
+                'content-2': {apple_policy: [mock_pie_transactions[1]]},
+                'content-3': {german_chocolate_policy: [mock_cake_transactions[0]]},
             },
             result,
         )