Preheat oven to 350F. Line two 8 bu 4 inch loaf pans with parchment paper.
Sift the all-purpose flour, baking powder, and salted into the bowl of a stand mixer fitted with the paddle attachment. Add the sugar and almond flour, Stir to combine. Add the pieces of butter and mix on medium speed until evenly distributed. Stream in the milk and mxi until all the dry ingredients are moistened, about one minute. Step the mixer and scrape down on the sides and bottom of the bowl.
Whisk together the eggs, vanilla, and almond extract. Add the egg mixture to the flour mixture and mix on low until combined. Turn the mixer to medium and beat for about one minute.
Divide the batter into two medium bowls. Tint half of the batter with the pink gel food colouring. Pour the plain and pink batter into the two prepared loaf pans and bake for 25 - 28 minutes, until a toothpick inserted into the centre of each cake comes out clean. Let the cakes cool completely on a wire rack before removing from the pans. Remove the parchment.
To create the checkerboard cake pattern, trim each cake into two 3/4 by 3/4 by 8 inch blocks to make four blocks total. Spread a thin layer of apricot jam on one side of each pink cake blocks and sandwich together with one of the plain cake blocks. Spread the top of one pair of the cake blocks with more jam and place second pair of cake blocks on top making sure the colours from a checkerboard pattern.
Roll out the marzipan into an 8 1/2 inch square. Spread a thin layer of jam on one of the long sides of the checkerboard cake and place it jam-side down on one edge of the marzipan. Spread a thin layer of jam on the remaining long edges of the cake and carefully roll up the cake in the marzipan. Press gently to seal and trim the marzipan and cake as needed.
To serve, slice into 1-inch thick pieces with a serrated knife.