The exposition includes the setting and characters. The setting is Prince Prospero's Castle and poor people are dying outside while the Prince locks all the wealthy people inside.
The rising action includes the conflicts that lead up to the climax. The rising action is where all of the guest are in the room and they hear the bell sound 12 times.
The climax includes the turning point, where everything goes wrong. The climax is where the music ceased and the "masked figure" shows up.
The falling action includes the events leading to the end of the story, or the resolution. The falling action is when the "masked figure" and the Prince are in the black room and the Prince pulled out his dagger.
The resolution includes where the characters are now. The resolution is that everyone including the Prince was killed by the "masked figure" or the Red Death.