I created a new user in System > Web Services > SOAP/XML-RPC - Users.
I created a new project in SoapUI.
Opened login > Request 1 and filled it in:
<soapenv:Envelope xmlns:soapenv="http://schemas.xmlsoap.org/soap/envelope/" xmlns:urn="urn:Magento">
<soapenv:Header/>
<soapenv:Body>
<urn:loginParam>
<username>test</username>
<apiKey>test123</apiKey>
</urn:loginParam>
</soapenv:Body>
</soapenv:Envelope>
This is the response:
<SOAP-ENV:Envelope xmlns:SOAP-ENV="http://schemas.xmlsoap.org/soap/envelope/">
<SOAP-ENV:Body>
<SOAP-ENV:Fault>
<faultcode>WSDL</faultcode>
<faultstring>SOAP-ERROR: Parsing WSDL: Couldn't load from 'http://local.test.dev/index.php/api/v2_soap/index/?wsdl=1' : failed to load external entity "http://local.test.dev/index.php/api/v2_soap/index/?wsdl=1"</faultstring>
</SOAP-ENV:Fault>
</SOAP-ENV:Body>
</SOAP-ENV:Envelope>