Well, i was able to get past the issue i was having.
Using SOAP-UI to connect to the web service, i have now figured out that you need to use jmx credentials for these commands (i got the impression from the docs that it was applicaiton (BSM/ucmdb) credentials with the API permission enabled in users and permissions. This is not clear in the documentation.).
Also, SOAP-UI has three types of authentication (in the AUT tab), use default JMX credentials of admin/admin, leave the domain field blank, and select NTLM/kerberos as the authentication method.