Heat oven to 350 degrees F. Grease and flour bottom and sides of 9-inch springform pan. In large bowl, combine flour and 3/4 cup sugar. Mix well. With pastry blender cut in butter until mixture resembles coarse crumbs. Reserve 1 cup of crumb mixture.

To remaining crumb mixture, add baking powder, baking soda, salt, sour cream, vanilla extract and 1 egg; blend well. Spread batter over bottom and 2 inches up sides of greased and floured pan.

In small bowl, combine cream cheese, 1/4 cup sugar and 1 egg; blend well. Pour into batter-lined pan. Carefully spoon preserves evenly over cream cheese mixture. In another small bowl, combine reserved crumb mixture and sliced almonds. Sprinkle over preserves.

Bake at 350 degrees F. for 45 to 55 minutes or until cream cheese filling is set and crust is deep golden brown. Cool 15 minutes; remove sides of pan. Serve warm or cool. Store in refrigerator.