Attempts to import license keys through IBM Rational License Key Administrator results in the error "You are attempting to import a floating license on a system that is not a license server".
Complete error message:
Old version of the license key administrator does not recognize the latest version of the Rational license key server installed.
Importing license keys through IBM Rational License Key Administrator, which comes with the client application, will also result in the error message.
Resolving the problem
Launch IBM Rational License Key Administrator, which comes in built with IBM Rational License Key Server, and import the license keys.